If the property is deeded 100% in his name,  You have a couple of options.1. have your name added to the title/deed at the county and perform a refinance or a 2nd position private note as previously discussed2.

While doing a rehab, exploring an option of adding an ADU as well.

Please message me I'm in San Antonio, I have a dear friend who's criteria is very similar I sent him a couple of really good options that he missed out on.

It has a VA loan currently, so if we were to sell, I suppose I could try to market to other VA-eligible buyers so that they could maybe keep the 2.25% if that's an option to try to add value. 

@Patrick Goswitz Check to see what the acceptable air conditioning options are in the area.

There are a lot of options so I thought I'd turn to you guys for an experienced point of view. 

We actually have the option to STR on a few of our properties and decline to do so because we make more money than an LTR on our medium-term rental with a lot less work than an STR.The pros to medium-term rentals: high occupancy rate, no local regulation issues if you are 30+ days, elevated rents, more and more people are staying longer, often the midterm rental tenant pool is professional. 

He said he would be interested in speaking with a mortgage banker or broker to see his options. 

Prices vs interest rates today don't make as much sense for the leveraging option.

Plan on developing these into rentals and/or lease options/ owner carry.