I have a six unit in Chicago's Wicker Park, and one of the 3 bedroom apartments become vacated.  There are several repairs and upgrades which are long overdue, so this is a good opportunity to make them, spending about $8,000.  My handyman typically does about 95% of the work.  I have a little extra time, so I am helping out, along with my 19-year old college (University of Iowa) sophomore to be.  He is studying computer science and working with kids this summer.  I bought the property before he was born, and has had little involvement.  

The biggest benefit may be he will find out what real work is, and what is involved in the process.  I am taking him to Home Depot and asking him to help me make decisions on what flooring, paint, bathroom accessories, etc. to buy.  He has cleaned refrigerators, painted walls, and pulled staples out of floors.  He does not have a real interest in real estate, I am not trying to sell him on it, but just want to expose him and do something we can do together as father and son.  He is able to see the scope of work which is extensive wall plastering, painting, woodgrain vinyl floors, new window glass(5 windows), new light fixtures, etc.  He can earn money toward his college expenses and have some new experiences.