I recommend obtaining a sample lease agreement from the state MHA and then working with your attorney to make it fit your needs.  

There is no purchase, or any steps towards a purchase until the Option in the Option Consideration is exercised.

This exercise will give you a deeper understanding of the relationships between the variables involved.

I'd be more inclined to give them an option to buy for 24 months with Option Consideration of 3%.When they exercise, you can 1031. 

The list isn't important anyway.B - The process you are following, doing what I am assuming is a Sandwich Lease Option is as follows:   1 - Gain control of the property by signing a lease agreement, and an Option agreement (they are 2 separate agreements, and should NEVER be a single agreement...and never include references from one to the other) in the name of an LLC (you).   2 - Sub lease to the tenant (buyer).   3 - Sell an Option on your LLC to the Tenant/Buyer.   4 - When the Tenant/Buyer exercises their Option, they are buying the LLC.   5 - The Tenant/Buyer now owns the LLC, and all its assets...which include the Option to buy the property.   6 - In the end, the Seller never changes, and the buyer never changes. 

You don't own it or have to worry about their mortgage unless you plan to exercise the option and buy the property.

As an educational exercise, I went to the courthouse and had them pull files of others who had petitioned for a tax deed.

I have received quotes for one ceiling sample and one air sample for $275.

Consider being a $60k-$120k worker for Amazon there and then run through the "drive till you qualify" exercise.

As an exercise, I think you should run your numbers with more conservative estImates and see if the deal still holds up.