I would recommend you call Jeffrey Miller Real Estate Brokerage. 655-8572. He is selling condos at 585 Laine Street in Monterey. I believe that there are some that will be rented out, I don't think they will have lease-option, but they will certainly be open to you purchasing a unit later on if you so desire.
They were just remodeled and have a very nice view above Cannery Row. You can walk to just about anywhere in town from there. They also have a free bus service on Cannery Row from Memorial Day to Labor Day.
I just represented a buyer there and he loves the complex. I also understand that if you can put 100k down, they will offer owner financing with a nice interest rate. You will need to check on that to make sure.
I don't how you feel about living in upper Seaside, but there are some good bank owned properties up there with beautiful bay views at mortgage prices that will rival rents. Contact me if you would like to see something like that. Happy house hunting!