Getting Right of first refusal and option to buy on a lease contract; questions.
These might be dumb questions so please hang in with me.
There's a newly devolved property I am interested in, but the owner doesn't want to sell cause his buildout and purchase cost put him way above market. He won't sell at a loss, I won't come up from my offer, you know the story.
We are exploring a lease agreement for the time being. He is going to offer a long lease with an option to buy. I havent yet brought it up, but I also want the first right of refusal. Now my questions:
Is it generally, an either or situation. Meaning, do either get an option or first right of refusal? Or can I have both? 
What is the best way to determine how option prices will be calculated, of the time should come?


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