The only "standard basis" available in this situation is $M$ itself (identified with a subset of $F(M)$).
The module $F(M)$ consists of all functions $f \colon M \to R$ such that $f(m) = 0$ for all but finitely many $m \in M$.
Addition of elements of $F(M)$, and multiplication by elements of $R$, are defined pointwise.
For each $m \in M$, let $e_m$ be the function $M \to R$ defined by:
$$
e_m(m') =
\begin{cases}
1 \text{ if } m' = m, \\
0 \text{ if } m' \ne m.
\end{cases}
$$
Then for all $f \in F(M)$,
$$
\label{eq:1}\tag{$*$}
f = \sum_{m \in M}f(m)e_m.
$$
The sum is well-defined, because of how $F(M)$ was defined.
If $(r_m)_{m \in M}$ is a family of elements of $R$, almost all of which are zero, then $r$ is precisely an element of $F(M)$, and \eqref{eq:1} therefore implies:
$$
\sum_{m \in M} r_me_m = 0 \iff r = 0 \iff r_m = 0 \text{ for all } m \in M.
$$
So, the family $(e_m)_{m \in M}$ is linearly independent, as well as generating $M$ - by \eqref{eq:1} again - i.e. it is a basis.
If, for all $m \in M$, we identify $m$ with $e_m$ (which is convenient, but can be rather confusing), \eqref{eq:1} becomes
$$
f = \sum_{m \in M}f(m)m \quad (f \in F(M)),
$$
and now $M$ itself is a basis for $F(M)$.
If $N$ is any module, and $j \colon M \to N$ is any function, then, by the defining property of free modules, there exists a homomorphism (necessarily unique), $\pi \colon F(M) \to N$, that extends $j$.
In particular, if we take $j \colon M \to M$ to be the identity function, it follows that there exists a (unique) homomorphism $\pi \colon F(M) \to M$ such that $\pi(m) = m$ for all $m \in M$, whence:
$$
F(M)/\operatorname{Ker}\pi \cong \operatorname{Im}\pi = M.
$$
The homomorphism $\pi$ is given explicitly by:
$$
\pi(r) = \pi\left(\sum_{m \in M}r_mm\right) = \sum_{m \in M}r_m\pi(m) = \sum_{m \in M}r_mm \quad (r \in F(M)).
$$
That is, $F(M)$ consists of "formal sums" of elements of $M$, and $\pi$ interprets these "sums" as actual sums in $M$.
$\operatorname{Ker}\pi$, of course, consists of all the "sums" that evaluate to zero in $M$.
It makes intuitive sense that quotienting out the "zero" sums from $F(M)$ leaves you essentially with $M$ itself.
The "$r_i$" you're worried about are, in the notation used here, the coefficients $r_m$ occurring in the formal "sums".