I assume I'd need to put in contingencies for the work to get done and to extend the inspection period.

If the option period had a big rent jump spelled out maybe you reduce that amount of increase to entice the tenant to extend the lease today.

One had financing issues but had enough equity cushion to pay back the loan and accrued interest, one (equity) had the exit extended and preferred return reduced, and another is unable to make some payments due to a fire (they have insurance, of course, which will reimburse them).

I know this, but the seller is a hard head and I don't want to rely on a difficult seller to make my 1031 transaction a success.So my question is, are there any 'force majeure' clauses that kick in to extend the 45 day selection period given there was a natural disaster in the area?  

But tipping tenants either die in place, or rush off to the hospital and then to extended medical rehab, or are compulsive hoarders who decide to simply up and flee their previous life.Landlords just look at all the junk left behind and smell all the stink of years and say, "I can't do this.

I am confident (will verify with PECO of course) that the property has a street-side gas main so there would not need to be costs associated with extending a main.The property has central air, oil heat and oil hot water. 

The property is near to extended family, and I want to kill two birds with one stone later this year and visit the property (for the first time in 18mos) as well as see family around the holidays.

And you showed how to extend that to the property search and marketing / screening process.

If you plan to live in it for an extended period of time, and you can comfortably afford the monthly payments and all associated bills then it shouldn't be an issue.

Check the short term vacation rental options in the area- Extended Stay America, Airbnb, VRBO etc. and undercut them initially to ensure you can build reviews and a brand.