Caller asking if I will rent to own. New to me

[Kevin LIVINGSTON]

We have two rentals for three years now. One we just leased and the other is now available. (both came up at the same time).  We have a 3/2/2 house in nice area that is a little small but gets a lot of interest. We need to get really good renter because it has solid wood floors and damage to them can get bad fast. So I get a request today for rent to own. I have no idea on how this works other than reading in here today. I like the buying process on houses so renting with option to buy would be something I think would work.  The house is worth around 120000 rents for 1075.00 

 Question: What #'s can I use on a deal like this for monthly amount and money up front?