This definitely sounds more like a lease option with you saying you would commit to exercising the option later on. 

I imagine you are not going to do the work yourself, the exercise of pricing out the material is to get familiar with the costs

Your landlord cannot retaliate againstyou for asking about or exercising your rights, including contacting the HealthDepartment or calling the Tenant Information Hotline.Your landlord is required to ensure that you review and sign this Notice, to provide you arenewed Notice if and when you renew your lease, and to keep your signed Notice on filefor as long as you remain a tenant.orientation, gender identity, religion, national origin, age, color, disability, ancestry,race, sex, sexualfamilial status, veteran status, or an expunged criminal conviction.IMPORTANT – READ CAREFULLY BEFORE SIGNINGAcknowledgmentBy signing below, I acknowledge that my landlord has provided me with theabove Notice, that I have reviewed the Notice, and that my landlord has given me a copyof the Notice to keep for my records.I understand that this Notice is intended as a brief overview of my rights andresponsibilities as a tenant and that if I want to obtain more detailed advice concerningmy legal rights and responsibilities, I should consult with an attorney or other expert onhousing issues.Please do NOT sign below unless your landlord has provided you a copy of the Notice tokeep for your records.Tenant Name: ________________________________________________Tenant Signature: ____________________________________________Date: _________________________________________Try googling some of the words in here so you can get the official form and have the phone numbers.

Unless you’re sitting on pretty hefty savings and know your industry won’t be impacted by what’s going on, then you should err on the side of caution.And there is good reason to exercise caution.

The consideration money also acts as the option fee and the down payment and applies toward the purchase price if the option is exercised by the grantee."

Is it worth going through that exercise for a 1st investment?

My Commercial Sale will still give me over $100,000, plus the HELOC money to use and I can start looking for the next Pool Home to fix up and rent in case I want to live in a wheelchair friendly home where I can get my exercise when I am in town in the backyard Pool.

(Property has a morgage of $3200 and we have a lease purchase agreement in place on a two year lease at $3000 per month and collected a $25k non-refundable down payment if they exercise the option to purchase at the end of the 24 months)

It could be a media room, exercise area, kids play area and storage, which are all valuable.

Waiver.The failure by either party to exercise any right, power or privilege under the terms of this Agreement will not be construed as a waiver of any subsequent or further exercise of that right, power or privilege or the exercise of any other right, power or privilege.