How's this different than an assignment?

If they're less or more than an inch think (don't have a roof handy :D) adjust accordingly.Jon

As you can tell, this is much more of a "helping the family out" effort than an "investment or for profit" effort so I very much appreciate the suggestion to check it out. 

The difference there is you might give a PR more relief than an investment property.  

What if two years from now they go up to the attic and notice an exhaust fan that terminated in the attic and not vented outside, or they wanted to add a receptacle somewhere and hired an electrician, and the electrician told them they can't and because the junction box has too many conductors in it and it exceeds the box fill capacity, so they have to pay to open the wall for a bigger, deeper box or piggy back another box...do they send you the bill too?

I am nothing other than an experience aka jaded landlord. 

They are basically short-term thinkers.I would love for my family to get into the business, but if they remain as they are now it seems like they would become more of a hindrance than an asset.

It would seem building in a new development the comps and appraisal would be easier to target than an area that is transforming. 

A flight from SF to Tampa is around $500 and 8 hours each way plus I'm no contractor so don't know how much more I'll know than an inspector I could send.  

So it can be a tax benefit for flipping properties.An S corporation is probably better protection than an LLC for liability.