Landlord wanting out of investment, help?

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Im not actually the landlord but I was recently speaking with my father in-law who owns a home in Evansville, Indiana. He has been renting it out for the past 10 years, no problems with keeping it filled or anything like that.

Here's his predicament, he bought it roughly 156,000 and recently had it appraised at 165,000. The current Zillow estimate puts it at 155,000 this year and 159,000 next year. He is currently renting it out at 1,100/mo but it is estimated on Zillow that it can rent for 1,350/mo

He has only been breaking even on it as a result of not raising rent over the years accordingly and has not lived in Evansville for the majority of his investment; therefore, this investment has been mostly a waste of his own time.

Their are 10 years left on the mortgage and 120,000.

My question for you all here is what options does he have to get out of his investment? Lease-option? refinance? Lein takeover to another investor?

Any and all input is greatly appreciated, and let me know if more information is needed?