I'd say regardless of whether you're doing a rental or a lease-purchase you should be worrying about a persons credit (if the bank won't lend them the money to purchase, there's probably a reason). And essentially, a rental is the same as a lease-purchase except for the additional money down for the option.
Overall, your best bet is to sell the property outright NOW, rather than wait. Let's put some numbers to it...
Say your home is worth $150,000 which is on the high end for the majority of the homes in Royal Highlands right now...at least as far as the ones that are selling (remember, someone listing their home for $250,000 doesn't mean anything if they can't SELL for that much). You get a lease-option set up with $10,000 down. The market in Royal Highlands is currently declining by about 3% per month (moreso if you're on a limerock road). After just barely more than 2 months your property will have devalued by more than the $10,000 you took for the option and chances are your buyer will back out/want to renegotiate and you'll be out a SIGNIFICANT amount of money due to the market decline.
Granted, you can say "Well then, I'll just have to get a minimum of $50,000 down"...but then...who's going to put $50,000 down on a lease-purchase in a declining market when the homes value is only $150,000...?
Your best bet in this market is to either rent and wait it out (my guess is 5-7 years before values climb up to where you'd want to sell) or realize that you don't want to wait that long, price the property to sell, and sell it fast before it loses any more value (time is not your friend in this case).
Hope this helps!