(Or lose all of their non-refundable $26,600 if they choose not to exercise their Buy Option)?

The idea is that as well as a normal Lease, a SEPARATE "Option to Buy" Contract would operate concurrently, which would comprise an agreed Purchase Price and NON-REFUNDABLE earnest deposit that would be put towards that purchase price IF they exercise their Option at the end of their normal Lease.

Tax role in Jackson county is worthless.

I want to really understand the real estate market before investing - why prices go up and down, the role of banks, the government, etc.I was looking online and found a book titled "Residential Mortgage Lending: Principals and Practices"Here is the link: http://www.amazon.com/Residential-Mortgage-Lending....Do you think this would be a worthwhile read?

The role of the small business owner is not to bear the brunt of government  mandates and make up for the governments shortfalls and waste. 

Every morning she wakes up telling herself she is going to exercise and stick to her diet.

I went PT. w/Chase so I could focus on real estate and get out of my banker role, hated my job terribly... anyway....

I want to figure out how I can translate my overall professional experience into an opportunity that will allow me to work within the real estate field in a non-sales role.

Make sure you can cash them out and exercise. 

Your lease option agreement with the seller should be clear that you have the right to exercise the option to purchase at anytime and therefor so does your TB.