If they want to restrict my rights as a property owner, they will do so, but I will always find a way to exercise my rights and go to court fighting it. 

Or if they don’t have the money to take care of a serious problem that could end up costing you a lot of money, you may want to step in and take care of the situation to protect your asset because, at the end of the day, it is still your asset until they exercise their option to buy it.

With vacation rentals (especially in upscale, high-revenue areas on the beach) amenities such as pools, lazy rivers, landscaped grounds, exercise areas, etc are key in attracting year-round visitors.

Land is always money draining exercise since no cash flow and only cash out. 

The extra year can be used to dispose house if they don't exercise option.

Once the option is exercised, the current home owner is no longer the home owner, and the lease is gone. 

Is local market research just an exercise in futility?

You need to exercise good judgement and not be afraid in making your choices. 

I have a tenant that seems to always exercise this option. 

I don't yet know about the health of the seller but this could be an interesting exercise even if I don't purchase.