While I agree with the answers given before, you should know that in Texas that any type of lease/purchase agreement has potentially serious pitfalls. The most dire of these is the complete loss of your home due to some minor issue such as not notifying the tenant when you change YOUR insurance company. Please seek out a good real estate attorney before entering into such an arrangement. The property code in Texas is decidedly for the tenant!
John Axt - John@johnaxt.com