Which of the following properties is included in a residential transaction?

In a residential transaction, the definition of residential property typically encompasses properties that are intended for living purposes. This includes single-family homes, multi-family units (such as duplexes), and certain leases. The inclusion of leases with options to purchase improved property of four units or fewer falls squarely within the realm of residential real estate. This is because the property, despite being leased, involves residential units that can be resided in, and the option to purchase enhances the residential aspect of the transaction.

In contrast, unimproved land for commercial use, warehouses and manufacturing facilities, and agricultural properties do not qualify as residential transactions. These options involve properties that are primarily used for business or farming purposes rather than for living, which is why they do not meet the criteria for inclusion in a residential transaction.