to resolve the Read-only issue
mount / -o rw,remount
filesystem will return to read-only at reboot
to make the Filesystem read-write Permanently ( our friend kb8679 thinks that this might give a risk for files corruption, so do it at your own Risk )
vi /etc/init.d/rcS
look for the line
mount / -o ro,remount
change it to
mount / -o rw,remount
then save using esc " :wq "
you have a read-write root