I am perpetually game planning future moves and this exercise inevitably requires taking a position on how the near future will unfold and the best way to benefit.

Two different bodies, they have different forms.Be sure to memorialize or write down whatever options you end up exercising, They should sign a Termination Agreement with you.

Are there exercise facilities?

I would always exercise EXTREME caution when moving forward with unqualified tenants during this time.

-I understand that the 15K deposit to exercise the option to buy will be forfeited if I don't exercise the option.The point of a lease option is to collect money up front as a DP or charge a higher rent, part of which goes toward the down payment if they don't have the dp right now.

@Sharon Miller they are exercising their right as stated in the lease.

@Franky JuwanaBefore looking at creative solutions for taking control of the problem, you need to establish first it makes sense financially.Is the price the seller is willing to accept a good price.Here it is an exercise of looking at the income they property will bring in and deduct all the expenses you will incur or are likely to incur.If you establish you have some positive cashflows then it makes sense.Now to be creative, you need to know what your constraints are?

.- Exercise your right as a landlord to advertise availability of unit the day you receive notice from tenant.

@Corine Haener, there are several options you can exercise when structuring the entity that will provide some assurance to the other partners. 

Once you start exercising your rights as a landlord and documenting your actions, she'll either take you seriously and start paying up or she'll make plans to move.