Customizing housing for students and medical professionals make sense. 

Many times the person leasing do not exercise their option and end up leaving.  

If the seller also has a termination point, I can't complain about if he/she exercises that right.

You need an architect who's familiar with medical facilities.  

Leave this money alone and use for true emergencies like medical, car accident, etc.  

You also can't give an option beyond the term of your purchase agreement. " Do you mean to say that if I do a CFD, and then hand out a lease option to a tenant buyer, I must first fufil my CFD contract before the lease-option cean be exercised by the tenant buyer?

Graham Mink  there's no such thing as easy money in this business.Your screening criteria needs to focus on ability to pay (you have that answer), rental history, financial responsibility, and any character criteria you have that's unrelated to protected classes.The less you know about the person's medical condition, the less likely you will be accused of disqualifying them for that reason. 

You are best to have an option contract  which gives the buyer the right to purchase at an agreed upon strike price (or an agreed upon mechanism for setting the strike price at the time of exercise) and a separate lease agreement (using the standard form of lease in many Provinces) at market rent.   

46 y.o. medical professional and RN wife in Wake Forest, NC.  

Detroit Metro taxes are fairly high (hire a tax appeals firm to lower them), insurance is higher than average in most places (call 10+ insurance providers to get quotes b/c the results vary quite a bit), and as you'll find through the forums, you must exercise extreme caution hiring property managers, contractors, etc (read many posts of investors getting ripped off).If done correctly, you can do very well.