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.

Manually running comps (another learned skill) is a better way to estimate market value, or can spend $350 or so on an appraiser.  

Lastly, if you have a skill set in finding deals, and money partners, you can look at creating a JV, assuming with non-disqualified persons (non family members).

I've amassed a ton of skills over the years as a 5th-grade teacher, professional competitive swim coach and a marketing leader that I'm positive have me well-positioned to take on this challenge.I've identified 12 potential properties within 15-20 miles of my home, that look RIPE for a great deal.