If you exercise the option now, it could b considered an effort to hinder, delay or defraud creditors.

Will my new lease be simply a "company name change exercise?"

I will say, this is a huge learning exercise for me and I definitely wouldn't do it again in this way.

Eat well, exercise, minimize the risk of injury and thats6half the battle.

"Hey, I was thinking of refinancing and getting you paid off, if I do that are you going to exercise your option?"

I have been analyzing a lot of deals on the MLS for practice and it has been a good exercise to run the numbers even if the results aren't always as promising as I would like.

Technically the lease option fee and the rent premium should be placed into escrow or a separate account and held there until you are able to exercise your option.

And if that's the case my real ROI is 7%.My idea is, I could sell the property and invest somewhere else the capital and get more than 7% (stocks for example, I know it's a different risk, just doing the exercise), or am doing the math incorrectly?

If you don't perform under the terms of the contract, Seller can exercise remedies as outlined in the contract. 

A contract could exercise one or both or neither of these, and both operate independently of each other.I told you the Devil was in the details.