A master lease option (something @Brandon Turner has talked about) is not a sale until the option is exercised, right?

This is exactly what the ad looked like, no pictures or anything:nice 2 bdrm (potentially 4 bdrm), 1 bath (potentially 2 bath) on large lot. 1952 sq ft. lease with option to purchase as follows: move in: $1,500 option fee- applied to sales price when exercising option to purchase, non refundable if option not exercised or violating lease agreement (i.e. non payment of rent) + $1,500 first months rent (or prorated if not on first of month) + $700 security deposit.

Let me know if you want exercise this option and I’ll cancel the appraisal for you and refund the $400 we’ve collected.

You can then either sell the option, exercise your right, or allow the option to expire.

In my previous post I was trying to illustrate that some of the items in your initial list were not {closely} related and others were not merely arbitrary regulations or excises forced upon foreign investors, but exist for practical reason and are common business practices {not just in Canada}.Under the residential tenancy act in most provinces, there is a distinction between the "normal" termination of a tenancy at the end of term (Note that in some situations and jurisdictions, only the tenant is afforded the right to decided to terminate the tenancy) and termination with cause - which is commonly achieved through an eviction.The concept of "buying out" the tenant from their lease does occur, but it is a practice typically outside of the legislation (save for situations where the landlord  is entitled to exercise {early} termination - such as taking personal possession of a unit, carrying out significant renovations, or demolishing the property.   

What they would do (for what I have understood) is some kind of LO by taking control of the property and lease it back to him for three years while he buys some time and be able to get approve by a lender to exercise his option. 

I would go through that exercise if I were you, in order to simply learn what you currently don't know. 

@Aaron Hollingshead - awesome stuff. would be interesting to try and figure out the numbers if you didn't have family there, and had to use paid services for that....just as a math exercise :) good luck on your next projects! 

Fun exercise in valuing properties with an expert panel. 

I know two of the bigger ones are MelissaData and InfoUSA.You can try asking each municipality individually, but cooperation and ability to actually fulfill your request in the way you’re looking for will probably be very spotty and I’ve found is usually an exercise in frustration.