I've done several lease/purchases over the last few years. I used to be in the commercial equipment finance business, so leasing and the contracts is something with which I'm familiar. Most of them are a bandaid on a broken leg for sellers, since the sale usually craters.
However, I know of a case recently where a developer was doing lease/purchases, with the contracts written by someone I know. Part of the monthly rent and deposit were to apply to the sale price.
In steps the government to help us again. The FDIC decided to shut down the lender, and determined that the loan to the developer was in jeopardy. They foreclosed on the homes. Now the developer does not own the homes, so the contracts buyers had are worthless. The developer can't transfer title since they don't hold it, and the tenants may have to move. But what about the money they paid?
Very ugly scenerio. The "buyers" are filing suit against the developers, the broker, and the AGENT who wrote the contracts, demanding their money back. The agent collected minimum compensation for doing the paperwork, and will probably have to spend that much and more in legal defense, for doing nothing wrong!
I think I'm done writing lease/purchases!