The use of repeated "neither/nor" phrases are a typical humorous technique that Jesus uses. It is a form of exaggeration, to set up the punchline. Jesus's listeners would not have thought there was anything wrong with inviting someone who can later invite them to a meal.
The punchline The word is uncommon in ancient Greek, but occurs a number of times in the Greek Old Testament where is used to mean "benefits" and "just punishment." In Isa 1:23, it is used to mean "bribes," which it likely the sense here.