Then on  lessor's death, he exercises his option, offers to buy from the heirs, with the right of first refusal, he gets first dibs, though the heirs can sell to someone who offers more.

How can I find out what they really need to make this work, without the exercise in salesmanship?

I would get with the broker and use a sample LOI that they use.  

Let me know if you need help analyzing a sample deal or putting together a realistic pro forma.

In the are you are in in Nebraska, look at land for sale in the area and get some contractors to quote you construction costs on a brand new duplex.If nothing else, it's an interesting intellectual exercise.

This was just a pilot so sample size isn't huge, but hope it gives you some ideas.Types of targets...55 of the leads were houses we wanted to live in (looking for a new primary residence at the time, we've since moved to CA) - those received a slightly different letter than the rest, stating that we were looking to move to their town and wondered if they were interested in selling (it did also say I was an investor, which was why I was looking for a house in an unconventional way!).

If you want samples of the editable word docs I use please send me a PM. 

All samples (many more could be listed) of agent's feedback will surely instantly corrupt any hopes of me earning as a middle man, even coming between both sides (agent, potential buyer) is, based on samples of quoted text above, completely impossible.

Aside from having the option properly prepared, you'll only need an attorney or title company if and when the tenant exercises the option. 

Would anyone have a sample of the correct way to set up the chart of accounts?