Just to clarify - because as @Brian Gibbons will say: there are many ways/ variations of lease options.

You get the drift.But of course, there's always other reason/s why variations will be justifiable.

If I am buying a home that rents for $950, more then likely I am buying somewhere between 44 and 50k, the variation would be the condition of house.  

The strategies I've been using are all variations of BRRR and almost all multifamily.

There can be large variations in your rehab costs dependent on those numbers and observations. 

Even if you pay cash for the property, the "50% rule", or whatever variation you believe, still applies.

Finally,  there is no exact science ( as evidenced by the fact that you will probably have numerous opinion variations to this question and if you have 500 CPAs in a room and ask them, you will probably have 500 opinion) so the easiest way, if you are unsure and you prepare your own tax returns, I would keep it simple.  

You can use "real estate agent" or variations of the term if you prefer.  

Using tons of variations, like "MHP," "Mobile Home Park," "Mobile Home Court," "Mobile Homes" and then also repeat using Manufactured and Trailer.  

What you are describing is a variation of house hacking.