Owner is deceased, has reverse mortgage on the property, his 3 children are middle aged and none of them probated his estate because none of them wanted to have anything to do with the property because of its condition and because of the debt on it.

My grandson, his wife and two children rented a house on a ranch that had frontage on a major river, and was owned by a billionaire (whom also lived on the ranch).

Also, be careful with the poisons like @Dan K. mentioned; if tenants have pets or children it could be deadly; they mostly use pellets which look like candy (that kids could try to ingest) or treats.

It has enabled us to send our children to university without going into debt. 

I've come across this situation too many times: good tenant, single woman often mother of children, deadbeat baby daddy get's out of prison moves in and ruins everything.

Do you have school age children?

I'm fortunate enough to not have any children that depend on me, so I probably have a little more free time than you to dedicate to this stuff, so what I say is best might not be for you.I would recommend that you continue to save up for that down-payment, but also set aside time each day or week dedicated to learning about out of state investing vs investing in a market in CA. 

No limit on children.

I have phone skills, people skills, love single and  4 unit it homes but have low credit, and several children.

Here is the setting:Husband dies.He buys a home with wife and they had no children together.Husband had 3 children former marriage.