All things are possible in real estate. The answer is yes. Essentially, the terms are spelled out in a lease with option agreement, which specifically details the understanding between the two parties.
Generally, the lease portion is the enforcable part of the agreement. Whether the home is eventually purchased is generally at the sole discretion of the buyer, (which is the option).
It is crucial that you have an agent well versed in this process.
Feel free to call me with any further questions.
Cell 248 935-0335