I also have a 4/1 a 3/1, And a 1996 infill house thats a 3/2.5 in the same neighborhood, it doesnt command a premium on rent as the prospectice pool cant seem to afford much more.  

Do you know of any credit analysis training that is somewhat affordable?  

Everyone is enjoying prices at the pumps at 20 year lows (adjusted for inflation), everyone except for small and medium oil & gas producers that can't afford to continue operating with their existing debt and the price of oil at $30 a barrel.

They will let you know what amount you can comfortably afford and which loan products you're eligible for.

Fortunately I have a partner that lives in the area with skills that will be able to handle the management of the property.Some of the pros of the area are seat of government, hospital, many good colleges and affordable properties.

What terms does the non-refundable deposit afford them?  

Check with your CPA or Tax specialist on the rules regarding vacation home usage for personal use.There are tons of Snowbird parks and properties in Florida/Texas/Arizona and other southern locations where you can afford to buy without breaking the bank.  

I would love to tell you to be warm hearted and give them a desperately needed break but,your rental doesn't sound optimal for her poor health to deal with safely.They need a one level ground floor unit to keep her safe and you away from a potential lawsuit.The first time she tumbles down the stairs and gets hauled away in an ambulance you are going to hear from their attorney crying "Well you should never have rented to them you greedy slumlord!!"

.- Another global health scare...what a coincidence...O_o

Truth be told, It's really one of the only areas I can afford to invest in.