Lease Option Confusion

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Hey BP community!

Wondering if someone can explain lease options to me like I'm a 3 year old. I went to a small seminar about lease options last night and still couldn't wrap my head around it.
I guess my main questions are: - Why would a seller agree to this as opposed to just selling their home for cash? - Does the seller still live in the property, while the buyer/investor pays them the rent? And, as far as having multiple lease options, it seems as if the buyer/investor would have to have a very large amount of monthly cash flow to be able to lease multiple properties each month.

Again, I could have this all backwards!

Thanks so much in advance!