I have a family currently renting one of my properties that had asked for the option to renew the lease for the first year.

Check your lease, unless there is a kick out clause upon the sale of the property the new owner has to honor the full term of the lease.  

The bank I used believed this rule wasn't applicable because once most leases were up after 1 year a number of tenants would be moving out. 

I have a 3bdr 1 bath under a lease with an option to buy. 

They mentioned about wanting to re-up their currently lease by signing a long-term lease. 

(TENENTS ARE IN ONE YEAR LEASE TO EXPIRE 1-31-19).IF I PAY OFF THIS LOAN NOW, CASH FLOW WILL INCREASE TO $897 A MONTH.I DO NOT WANT TO SELL HOUSE.HOUSE # 2BOUGHT IN 2014, PAID 220KVALUE NOW IN 2018, VALUE IS ABOUT 335-345KBALANCE ON LOAN IS $151KLOAN RATE IS 4.375, 30YEAR FIXED RATE SINCE TIME OF PURCHASE IN 2014.AT THIS MOMENT, CASH FLOW IS $200 A MONTHTENENTS ARE MONTH TO MONTH, HAVE BEEN THERE FOR 15MONTHS,  I DO NOT WANT TO SELL THIS HOUSE.  

Either get an income-stable co-signer on that lease or move on!

However, if you have 25% to put down with at lease 5% left over after closing in "reserves" and decent credit, you're in business, even without a job.If this is the case, do as I advise and open an LLC today.  

I'm looking for your best and worst experiences in lease purchases and how you learned from them. 

I'm think a lease option may be possible.