Make sure the option is NOT assignable or assumable to prevent above mentioned scenario.

You can request additional security deposit but new laws affect how long you can keep that, I believe only one year but you will need to independently verify this.

Additionally, I reside in the Doylestown area, and would not be opposed to forming relationships with other investors in the tri-state market. 

Like you said, that way I also wouldn't risk something happening in life that would suck up money and prevent me from finishing the repairs. 

I am an international investor making my first investment in upstate NY.I need help from an accountant that is familiar with international investors.Happy to share additional details if required, let me know.Thanks!

The high density polyurethane as mentioned in the other posts is much lighter than a cement/mud mixture making it less likely to cause additional settlement due to the weight, another benefit is that it expands and compresses the soil underneath it to a certain degree.

The hard money lenders I have contacted are charging almost $5K in fees that are due upfront which is in addition to 10% interest.

I'm happy to provide any additional insight as you search for a property manager in the area. 

That's a lot to pay for a property that you definitely will need to pour additional capital into.

In addition , I want to set myself up to be able to buy another rental down the road.