I agree. You don't need to get involved in another piece of real estate with him now. He can rent for a few months, get everything sorted out, and then if he can afford to buy, that's his business. The world is not there to fulfill every dream he has. That is his beef with things already. Do not continue to help him adjust the world to fit his desires. The boy has to grow up.
I agree with everyone else..and BBJ I know you are probably aware but when he finds out you won't help him with the loan..He will spew. It will really surprise me if he does not..