New to This - Lease-Option Questions

[Kiley Harris]

I recently came across a lease-option opportunity and I have no idea where to begin. I am 22 years old, fresh out of college and working a typical 9-5 and feel like this fell into my lap and can't tell if it is too good to be true. Super desirable area, comps seems to align and current tenants are hoping to stay until December 2023.

When I met with the seller through a mutual friend, she said I need to create a contract and her and I will discuss/negotiate terms from there.

My questions: 

1. As the buyer, what clauses should be put in there to protect me? I know seller has upper-hand but is there something I should be thinking of long term/or being able to sublease it out as a lease option-sandwich... Maybe someone would be willing to show me theirs? Point me to an attorney?  

2. What is a typical option fee/how much $ per month should be put towards rent credit? Is this typically in addition to the market rent rates or a percentage of the current market's rent? example: Market rate is $1,000. I pay $1,200 and additional $200 goes towards rent credit OR I pay $1,000 and she chooses $X.XX to be put towards rent credit?

3. What are general things I need to know before I present to a draft contract? Maybe general rule of thumbs would be helpful?

4. Do I get an appraisal, how do we decide ultimate purchase price or rent price and credits? Generally who pays for what?