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It's a yearly lease agreement. The front of the house faces north. It has one bedroom (with the possibility of adding three more), one kitchen (located on the fourth floor), and air conditioning on every floor (a total of six units). You can move in right away. On the first floor, you can enclose it with glass walls, and on the third floor, there's room for expansion.
Foreign nationals can own the building (townhouse) in their own name, but not the land that it stands on.
Foreign nationals cannot own land in Thailand. The options in which a foreigner can control the land are via a 30-year lease or by purchasing the land through a Thai company.