A REIT is a publicly traded vehicle and usually only makes sense if you have billions of dollars under management. 

CaseyHey Casey, I think what you outlined is a good option.Does your mom want to keep it out of sentimentality, or is she truly trying to use this home as an investment vehicle?

I would add in areas around the south minneapolis light rail system and around any of the lakes including Hiawatha and Nokomis.

Accounting software, property management fees that are not property specific, vehicles (not there yet but... one day), computer, and office supplies. 

I have a vehicle worth $10k and maybe can get a gift of $10k for down payment.

You will need to provide someone with a work vehicle, pay for the insurance, gas and maintenance and then you will need to constantly worry about being sued for overtime pay, sexual harassment, retaliation, age or race discrimination and a thousand other possible issues that could result in a civil lawsuit against you, personally.

Keep in mind there's a minimum standard the property must be in (no peeling paint, hand rails on stairs, etc) so have some cash on hand to make any repairs if needed.

It will depend on the individual investor as to whether they are looking to get their money (plus) back quickly, or are looking for some type of monthly income via an interest vehicle above market.....You will have to feel them out one by one.

Also, an LLC provides a vehicle for tax incentives to lower your tax annual liability; be sure to consult your respective local tax professional for advice and guidance. 

Previous 4plex purchase has been a great leveraging property for additional purchases.  4plexes are considered residential units and less risky as an investment vehicle so this purchase of 2 side by side properties added 8 units to our portfolio in two smaller purchases.