I simply meant to carefully find and vet good property managers in town.

He may simply be realizing that this guy is about to "fall" off the roof and then come after you and your house, kids college funds and retirements. 

My wife and I decided a few years ago that the "normal" life was not something that we wanted to live simply because we could.  

you can have them sign a brand new lease agreement, but if you are only changing the rent or simply extending your original, it is unnecessary. all you truly need from a contract point of view is an addendum to original lease, which references the original.

@Zabrina Horton,You are considered to be “disqualified person” to your IRA and as such not allowed to enter into any transaction with your IRA.

If this is in fact the intention do I simply terminate the current lease and create a new one?

If so, then the title is clear, absent any local government liens.If you mean you've obtained a Quiet Title order and it is final and non-appealable (42 days after the order is entered) then the title is clear.If you mean you can't find anybody who is still alive, the title is not clear. 

Then propose one of the solutions above: simple owner financing (he will issue you a mortgage note and you would get title to the property,) "subject to", where you will get on title and leave the mortgage in his name and keep making payments, or "lease option", where you enter a contract to lease the property with the option to buy it in the future (you can sell it or buy it out.)

You could simply say you found someone who was a better fit for your property.

Would it violate any tenant rights or state laws to simply offer the tenant a renewal contract as the new owner or a notice to vacate knowing it legally has no claws and teeth?