I recently signed a lease with the option to purchase agreement with a tenant. It has been 2 days and he wants to back out of this agreement. Is there a cooling off period or recission period for leases in Nevada? I believe that I can hold him responsible for the lease/option. He gave me a check for deposit for the optionllease and now is putting a stop payment on the check. What can I do?

The right of recission may apply here. That right is federal law, and the Fed statute refers to real estate loans, so this may qualify. I wouldn't test it.