The education you'll gain from that experience will far outweigh the low salary/wages that you'll be paid.

I'm going to have to do more than just direct mail given that my budget is so low. 

The price is low at 900k.

She has been renting it for a super low friend rate from me.

If you do find something that cheap, you should be extremely leery because there's a reason it's priced that cheap. $20k would just barely get you a decent quality SFR in a lot of markets.

But 8% seems like a fairly low rate of return for what you will be doing.

In the long run over however many units, they say it's easier and works out better than a low deposit.

I think the key take away here is that the Cap Rate is way to low for the level of risk even though the tenant is locked into a LT lease. 

This option provides 1) a low entry point into an expensive market due to the VA loan 2) A SFR feel for you and your family ideally with a yard 3) Small multiplex are the best cash flow options currently in San Diego (SFR are real hard to find cash flow). 

The first purchase you can do with a low down payment of 3.5% through FHA.