Generally speaking, Rent To Own (RTO) arrangements usually are not that great of a deal. You will often end up paying a pretty standard rent, risk a deposit and all you really get out of it is an option to buy the property at the end of the lease. It gives you time to get a down payment and financing together. It keeps you from having to move twice, which can have some value. Anyway, that is my opinion. But they are presented as having some value. Do you need a FTA to enter into an RTO?
An option to purchase real estate is sometimes viewed as an interest in land, so the safe bet is to execute and FTA before entering into such an agreement.