Lease Purchase and Tax deduction

[Patrick Shep]

I've been proposed with a "Lease purchase" deal. Owner would lease to me $300/month and then at 4 years there will be a balloon payment due. I would be responsible for all expenses (taxes, insurance, etc). Does anyone know if I would be able to deduct expenses on my taxes if I don't techincally own it? I know I can ask my CPA, but interested if anyone else has experienced this? They prefer rent to own so they dont have to foreclose on anyone and can evict. They know I would be renting it and not living in it.