1) Yiu REALLY need to know what CA will  allow you to do, I don’t know, but the state may say too bad landlord, you lose. 2) Assuming your attorney (Or you if you’re able to decode the laws that relate to your situation and are willing to go to court in front of a judge against a “sick” kid.) think you have the right to collect the rent I’d give them two options. 

Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

I'd be a fool to think they'd make more strictly wholesaling.

If you can wait on the cash flow I'd consider a sydication or something more passive if you aren't looking to be quite  as active.

If you can post more of the details I’d love to give my advice!

If you’re paying off more than $1,500/mo I’d probably keep it barring any major upcoming capex. (3-5 years out so buyer wouldn’t automatically ask for it to be repaired at sale.)Good luck either way. 

I'd be happy to connect further and see how I can help, feel free to message me. 

I’d love to hear your thoughts, advice, or any experiences you’ve had with similar situations.

If so, I'd consider those options first as they fit in the infinite banking concept.

I’d love to hear from anyone who has experience in this area.