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yeah i have done it. It is all about screening. Also make sure the lease and option are two seperate agreements.
Big trouble spots that i saw. The person develops an equity situation through the option and you are forced to foreclose versus evict. Your lawyer can clean that up but make sure it is a true lease that can be evicted on. You are now a landlord. You need to screen the fuck out of them.
The option side is open it is hard to advise but try to stay away from super long ones. The length changes how your state sees it. 100 years is way different then say 2-3.
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