Lease Option

[Christopher Moran]

I have a potential candidate for lease option, she has the property rented out right now. So do we have to wait for rental agreement to expire? Should the property be vacant? Not sure if that's a good idea for insurance reasons.. And can anyone shed some light on rent credits? Does the $$ go into an escrow acct set up by an attorney? Does the down payment go into escrow? And how do I receive my fee? Bank check from seller in my name? When the time comes to purchase property at the end of lease I'm assuming there's closing costs involved paid by the seller?  

Thanks for the input