Her job is to sell your offer to the seller, not predetermine the worthiness of it. 

Every month they pay you rent you reduce the purchase price by a predetermined amount and you do that until you find a property that you want to 1031 exchange into.

Whether a place is a rental or a purchase shouldn't be predeterminative of where you live.

If you're confident that you can complete the rehab within your predetermined time period to keep holding costs from going over budget, hard money can work for you just as well.Traditional financing could be a road block when it comes to targeting seriously distressed properties, some lenders wont loan on a property that is not in "move in ready" conditions.

Consider 2 situations: 1) You enter an LLC with a partner for 3 years for some predetermined payment system on a monthly basis and something goes wrong and you can't continue to deliver after 2 years2) You enter an agreement with your LLC and multiple partners whereby the terms differ which allows you to perform over the course of the 3 years and you pay the varying lenders off to a schedule fitting their particular needs with agreements fitting their needs. 

You used the term "Renew" but are you referring to a predetermined option period or has the Tenant already exercised all options and a completely new lease would need to be negotiated?

Actually i have one questionI have been living on one house on lease option contract for 5 years and predetermined price was 120k.Now its been nearly 3 years and i have found one potential buyer who can buy this home immediately on cash on 170k.so,how can i take advantages of this situation??

Thats technically still a fix and flip but is there a predetermined amount of time you legally have to live there for it to be considered okay to sell your own property?

The owner leases out the property for 2 or three years and the tenant after the lease part has been made, he can buy that place for a predetermined price agreement that is usually an appreciated amount that they both agree on. 

The construction funds are typically released in draws where you would advance the work first, then he would inspect and reimburse you based on your pre determined budget.