The need is much much much greater and demand will continue to outpace supply.

So the question for her to decide is do I want to continue investing my retirement in wall street or do I want to move some/all the funds into alternative assets like real estate that can far out perform the stock market.   

@Kevin Orellana do you like the asset; is it in a neighborhood that you are proud to own it, do you see it continuing to be a desirable place to live? 

Many lenders, including Wells Fargo, may consider it a due-on-sale clause, which could lead to them demanding full repayment of the loan.

There are many lawsuits filed against them, and they have failed to repay many past investors - I personally know of at least 20 people who are collectively owed millions. 

Property values continue to rise, enhancing its investment potential.

Property values continue to rise, enhancing its investment potential.

I agree with you on the value of the assumable VA loans as interest rates continue to go up. 

Do I need to draft a new lease with the tenant, or can I continue with the existing one?

Unless she hates her job it probably makes sense for her to continue with the high earning (and hopefully saving) so that she can look as bankable as possible as she gets into RE.