Lease Options agreements

[Rodney T.]

Hi all,

          This is my first post on the forum and I'm new to real estate investing, but I got the bug now and I'm interested in lease options. I've spent the past few weeks learning more about them but I want to check my blindside by crowdsourcing my ignorance. I've spoken with finacial mentors recently, secured a few potential investors, and I feel a wave pushing me forward but I'm obsessed with doing my homework. I have experience in sales, and I'm a people person that works hard so I feel like I have the potential to excel; if I have the right vehicle to get me to where I want to be. 

            I want to know if lease options are necessarily considered installment sales, and if so, what are the implications to the seller? Will they no longer be able to claim depreciation on the property,  or does this apply only to those sellers who have been renting the property prior to signing a lease option contract? I assume it doesn't apply if it's their personal residence.