Lease to purchase option structure
We're looking to convert our current home into a rental with the option to purchase.
Would anyone happen to have any thoughts, tips, recommendations on structuring a lease option? I've heard of a seller acknowledgement form, having a limited power of attorney, nonrefundable deposit, etc. I even heard of a landlord being sued and losing and having to back pay all the rent payments.
I figured I'd speak to a real estate lawyer recommended by a investor friendly title company. I have one in mind, but before I go and speak to them, any info from knowledgeable professionals/landlords is welcomed. Thx.
In the meantime, I'll scour posts for any info about this topic on BiggerPockets.