Benefits of rent to own
There is no immediate answer to your question since each rent to own option is different. There is no "standard approach".
I have a client that has mastered this as a win/win situation for his "rent to own" tenants. He custom buys homes for tenants and charges them 5-10% deposit that is non refundable and immediately goes under contract with them to purchase the home at a 5% inflation rate per year. If the home increases more, it is the benefit of the tenant. In the mean time, he gets tax benefits and less headache calls from the tenants since they have already bought into the idea it is "their" home and therefore take better care of it and make improvements knowing they will be the beneficiary. He gives them 2-3 years to close so that he can utilize the 1031 exchange tax savings.
Make sure that you are dealing with reputable sellers that actually have title to the property. There are scams out there in which people act as "third parties" and collect your payment and let the actual seller default and you loose everything.
Have a good attorney review all contracts on these before you sign because they are very complicated. I have had excellent success on the ones I have done and everyone ends up happy!
Best of luck!
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Is rent to own a home convienient
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