Obv, you would want to approach this deal with your daughter in the same way.In a lease option, you hold the option payment (essentially, her down payment) and credit it to the purchase price when she eventually exercises her option. 

There are so many responsibilities and roles that go into buying a property, this includes those things like market research, property an market analysis, making offers, negotiating, etc...even on properties and markets with no connection to the property you buy. 

I took on a client once who told me he was making about $30-35k in his new role at his job (not yet established/secure in it).

The GC we hired had very little support staff so my teams role in the backend of things was intricate in getting this deal done in a relatively timely manner.

The GC we hired had very little support staff so my teams role in the backend of things was intricate in getting this deal done in a relatively timely manner.

The GC we hired had very little support staff so my teams role in the backend of things was intricate in getting this deal done in a relatively timely manner.

This demonstrates that you have exercised due diligence to protect your guests in a professional manner. 

Even as an exercise it felt good to analyze a deal!

Also, if the neighbor tenant is elderly, doing a wellness check call (or requesting local police to do a wellness check if no reply) can reinforce your role as a responsible / caring LL.

I would be looking for someone who has liquidity in case you need to pivot, similar time horizons, and discuss expectations about roles and responsibilities.