According to the IRS it could because it would "enhance and maintain skills that I use in my career".

I need to decide on the monthly lease payments and the price of the home when he exercises the option in 24 months.

I look forward to learning from one another and enhancing my knowledge in REI.

And then you have folks with low FICO scores who, like I indicated above, just got sick, and got right with all the unexpected expenses and bills over the course of three months, but those late payments do not drop off for 5-10 years.We're handcuffed into giving out those irresponsible loans, and denying those completely responsible loans, but you as an individual landlord have the freedom to exercise wisdom and discretion that we do not.

I'll try to clarify a little:While the idea for this situation stemmed from my thinking about a real potential deal on the horizon, the scenario I proposed was an exercise for my brain trying to utilize the selling of a note as a tool in structuring a creative financing deal. 

If Buyer chooses to exercise Buyer's right to terminate this agreement, Buyer must give notice to Seller in writing prior to the end of the Due Diligence Period."

Running numbers without the homestead seems like a pointless exercise.2.

When the tenant buyer exercises the Option to buy a few years later, generally that has bought down our underlying financing and we split those profits 50/50 as well.

I was given a 12 month redemption period in which I tried to exercise but the HOA evicted me from the property and when I set up a Short Sale with my lender they would not let me access the property. 

If you certainly can afford the new payments then you won't need to artificially enhance your income to qualify for it.