I would take the first opportunity you can afford to renovate that unit to get them out and start over. 

Many years before I became a realtor I was a USAF veteran working an IT job and was bedazzled by the market at the time and a "perfect" house and bought at the tippy top ceiling of my affordable price range (chasing that white picket fence dream, etc.), using my VA benefit. 

I would ask for pay stubs and/or bank account summary to show he can afford it.

Anyone know an affordable way to go about this?

Can you afford to quit?

BUT BUT only if the numbers work, and you can afford it. 

@Eugene Rabinovich People are generally moving south and east in the United States to find better job markets, warmer climates, more affordable homes, and lower cost of living.

"Where" will depend on a lot based on the investor's goals as there is not a unicorn city that has affordable housing, no crime, high cash flow and high appreciation. 

Like Belmont Concord has a lot of high end properties but there are still a lot of affordable homes there as well. 

Health care alone for a married couple even on Medicare is going to eat up probably close to 1k. at todays numbers.. remember Medicare prices for how much you earn and if we are high earners it cost more.