how to present a l/o deal or land contract

I’m new to investing and have been reading for 6 months now, I want to try and do a lease option or land contract deal on a farm house owner has fsbo, it was on the market 9 months with no takers, I actually want to use this for my own priviate residence at first. Owner wants 199,000 most rentals go for 600-1000.00 in and around that area, how can I write a offer and explain so maybe he would be intrested in selling me the home this way.
Any advise greatly appreciated.

Also has anyone ever rented a house then sub rented it to someone else? how do you do this I would like to do this near a major university and maybe make a couple hundred bucks a month.
Thanks in advance for any ideas and information