You can buy with a lease option all day long in Texas. But why would you want to do that?
You should not ever sell with a lease option in Texas because a lease option was reclassified as an executory contract about 17years ago. This information applies to selling with a contract for deed too. The some of the rules are that you have to give the tenant/buyer the deed within 6 months, if they change their mind you have to give all their deposit back, if you fail to supply annual accounting there is a $250 a DAY fine, the list goes on and on and on of RIDICULOUS rules which should be enough to convince you that you should never, ever do a lease option or a contract for deed in Texas.