I disagree

If the original poster has trouble with renters next door just wait until somebody else owns right next door. 

If they successfully exercise this type of contract and get it bought his troubles today will pale to what comes next.

No matter the sentimental attachment take some pictures of what used to be and knock it down. Get the property taxes reduced and never deal with the hassles again.

Some like fooling with rentals and all the headaches I do not.