I think this thread has passed its expiration...

You can always renegotiate initial terms.Just offer something like 5k refundable by or before due diligence expiration and then the next 5k deposit due at dd expiration which at that point both can be non refundable because by then you would know if you'd be going forward.

Did the property owner file for bankruptcy (i) before the property was sold at the sheriff's sale, (ii) after the property was sold at the sheriff's sale, but before the expiration of the ten day redemption period, or (iii) after the expiration of the ten day redemption period, but before the new owner filed for eviction?

What would take place then, is your option would expire before the LC was paid up.

Back home in Lima Ohio there was a lot of vacant properties expired listings and a ton of tired landlords to work with it seems like those are not the way to go here in this area

Sometimes sites like Zillow, Hot Pads, Rentometer, etc will have historical data on previous/expired rental listings that are still accessible. 

The current lease will expire end of next month.

When does your contract expire?

So it gets put up, sits around, and then expires. 

As soon as the lease expires I would ban any smoking indoors or within 10 feet of indoors.