For some it may be meditation, others exercise. 

If, however, the owner quitclaims the property into a corporation where its stock, shares, memberships, or other equity interests are not wholly-owned by the owner, then a Form 107.9 endorsement would be required to name an additional insured.”Here's an extended post I've made other forums that you may want to also consider and want to research;Regarding the transfer of a property to and LLC; The lender can exercise the "due on sale" clause if the name(s) of the buyer are not the same name(s) as the members identified as the owners of the LLC.

I'm thinking I could set it up so that the actual purchase price is 5k but can not be exercised until after 60 month lease. 

As a new real estate investor, I am working through the deal analysis exercise while I grow my purchase funds.

This takes all of the tile work and deed work out of it until you exercise the right to buy.

If they do not exercise the option you can always sell at that point potentially for more money. 

Almost made to feel this was an odd request and "Ordinarily, in all commercial leases, theres is a provision with respect to a renewal option that the tenant must exercise with in a stipulated period prior to the expiry of the lease.

Hey Maxim, fun exercise.

At the end of the primary term the building usually reverts back to you the land owner for free if the tenant does not exercise their lease option.No legal advice.   

Consequently, if the seller would like to receive a reasonable asking price (along with the with limited fees associated with lease options, etc), they may have to sacrifice owning a primary residence until the option to buy their property is exercised.