It is surprising how much $$$ you can save when you acquire the tools and skill.  

There are some risks here, and success depends on your management skills and staying on top of things, because ultimately you will be responsible for paying the rent and/or any damages if the tenant turns out bad or fails to pay.Any of these strategies would help you gain experience that will build up your savvy as you save money. 

This will be much more valuable for you and lead to future partnerships and JV's with the investors you help all while learning the skills you need to succeed.

The key is to get a skilled investor-friendly inspector to make sure you have good plumbing, electric, structure, roof, and mechanical systems.

You need to figure out how much time you have and how to apply the skills that you have best.Here's an article I wrote that should give you some guidance:https://www.biggerpockets.com/member-blogs/10850/86621-six-steps-approach-to-getting-started-in-real-estateIf you need more guidance feel free to reach out as I'm in the process of creating  training on getting started with REI. 

However real estate is illiquid and takes a bit of skill to do.REITs: far more liquid, meaning you can get in and out faster.

In short - this is a great business but not an easy one that you can jump into and hit the ground succeeding without having mastered some important skills.

Rather than giving them money or letting them live at home for free to help them out, I think creating opportunities for them to learn real world skills, develop their problem solving and people skills, and understand the power real estate/business to build wealth is far more valuable.  

cashflow a 'self managed' MF will try your level of patience, test your immunity to stress, demand you significantly improve your handyman skills, as well as your tolerance for the inane & ridiculous.

My reason is that everyone seems to have cash and skills, but there is always a need for deals.