Helping a family member without putting yourself at financial risk

[Bobby Thompson]

Hey Bp!

      Need a little help. I grew up in a working class town in southern Massachusetts. It wasn't a terrible location during the late 90's to early 00's but the job market isn't as good as it once was and the area has been plagued by drugs and drug violence. I moved away long ago but my family is still in the area. 

      I have a close family member that fell on hard times about 5 years ago but has made an amazing recovery. They separated from the community that was dragging them down, got sober, and they have had steady employment for the last 4 years. Like many lower income recovering individuals, they're not in the great financial shape and their credit is shot. They have saved up a good amount of money for a down payment and they have a decent reserve. I want to help them get into a house but I want to protect my finances. 

    I realize this is more of an investment in a relationship than real estate. I'm not really looking for financial gain from this deal. Is there a safe way to provide financial assistance without incurring significant risk? I'll probably supplement their offer even if there is no way to limit my risk. Has anyone had a similar experience?  What did you do to help?