Lease option is a great idea in theory but it rarely works well in actual real life, in the 21st century.
If an owner occupant buyer can't qualify for the loan today, it is pretty unlikely they will qualify for a loan in two years. -
Many years ago, in the previous century, owner occupant buyers needed large down payments and It used to be that down payments were the main obstacle to home ownership. In the past ten years , many zero and low down payment programs have developed for qualified home buyers.
(investors and unqualified buyers still need down payments)
So since the down payment is no longer the problem, why do unqualified buyers that can't get a home loan think they want a lease option. One reason is if they have terrible credit, and they think it will improve. Okay, but Steve, do you want tenants with terrible credit?
Another reason they might not qulaify for a purchase loan is that they do not have the income to make the payments. --- Steve, that means they don't have the income to pay your rent plus an option fee.
Very few lease option agreements turn into sales. I advise pursuing a pure rental strategy or a pure sales strategy. You could still consider the lease option strategy , if the prospective buyer or tenant suggest it.