Shelly,
I am sure that you will be fine with her. But remember she is 7 years old (my yorkie is 8 yrs old)...so she won't be quite as active and playful as a younger dog would. Being used as a breeder all this time, you will have to be patient and teach her to play, and you may have to teach her not to go potty in the house. It would be so awesome for you to give her a loving home so she can live her last years in a nice, family environment. Just make sure your kids are extra calm and gentle with her at first because she is not used to being around that environment since she has just been used to breed. I think she will be a good addition to your home. Let us know what you decide and keep us posted!! Good luck!
Gail