Lease to own property that was flooded during Harvey

[Jody Broussard]

 I live in the area that Hurricane Harvey did his thing.  My friends parents have a house that was flooded.  They have been in an assisted living facility for a while, and their daughter has been taking care of their business.  The house has been empty.

I believe that the cost to rehab would be about $50000.  Not sure if they had flood insurance.  After rehab, the value would be in the $130s.  

Here is my line of thinking.  I invest the 50 grand to rehab.  If they have flood insurance, they keep the money to help take care of her parents.

We sign a lease to purchase contract.  We agree to lease for the duration of her parents life, in case they are able to be on their own again.  ( highly unlikely)  Lease is for $200 a month.  At time of their death the purchase price would be $50000.

I'm trying to use the BP Calculators to help me crunch the numbers, but not have much luck.

Can someone guide me through the calculating.

As you can tell, I've never done a lease to purchase before.

Thanks in advance

Jody