In this paper, a cooperative protocol is investigated for a multi-hop network consisting of relays with buffers of finite size, which may operate in different communication modes. The protocol is based on the myopic decode-and-forward strategy, where each node of the network cooperates with a limited number of neighboring nodes for the transmission of the signals. Each relay stores in its buffer the messages that were successfully decoded, in order to forward them through the appropriate channel links, based on its supported communication modes. A complete theoretical framework is investigated that models the evolution of the buffers and the transitions at the operations of each relay as a state Markov chain (MC). We analyze the performance of the proposed protocol in terms of outage probability and derive an expression for the achieved diversitymultiplexing tradeoff, by using the state transition matrix and the related steady state of the MC. Our results show that the proposed protocol outperforms the conventional multi-hop relaying scheme and the system's outage probability as well as the achieved diversity order depend on the degree of cooperation among neighboring nodes and the communication model that is considered for every relay of the network.