A lease option is a rental where some of your rent may be applied as a down payment for a future purchase of the property. Commonly the price is set at the beginning of the arrangement and an "option" is purchased to buy the home at a later date for a predetermined price.
During the rent period, you are a tenant and the owner is the landlord. If something breaks, they are responsible to fix it. If you are unable to complete the purchase when the option is due, you lose whatever you paid for the option and additional rent.
Lease/Options are really risky schemes that are designed to create the illusion of buying when you don't currently qualify for a mortgage. Unless you have full confidence that the value of the home will increase well beyond what you would pay for the home plus the other expenses and you would absolutely be able to obtain financing by the time the plan is going to expire, I wouldn't encourage one.
Doing legitimate credit repair while renting a home as strictly a rental is generally a better plan. When you do become ready to buy, you'll have more money in hand if you are careful and more options to choose from.