After executory contract law changes in 2005 these L/O transactions with a term of >6 months are slanted against the sellers with compliance requirements and heavy penalties.

Make an appointment with LO and ask all the questions, you will have better understanding about their products.  

Typically the tenant-buyer in a LO isn't able to qualify for a mortgage, so that's why he records the option to buy at a future date when he will be able to qualify to purchase the home at the negotiated price.

The rental, as you know, makes you responsible for all maintenance, the L/O puts the burden on the prospective owner.

You will see Mtg.s and the foreclosure LO filing, and the Final Judgment If recorded.

My LO didn't mention the 15% down  option.

That said, the tenant owned (tenants don't receive title until they execute the option at the end of the LO period) model we've built has allowed for great cash flow thanks to reduced expenses -- we are only responsible for major cap ex and infrastructure, not day to day maintenance.As for your last point -- yes, there is a significant difference in the market rent for a single wide versus a double wide.

A good LO should be able to troubleshoot this question for you.Feel free to PM me if you would like but no worries either way. 

Your lender/LO should have a full understanding and experience doing these, and be able to set proper expectations with you.Best of luck!

And yes, their process is S-L-O-W.