you may also want to check with zoning to get an idea as to when the last time a two-family variance was allowed and what the general consensus of the townspeople are when it comes to such a conversion (the people on your tax block will hsve to be OK with the conversion).

Its normal to be nervous but keep pushing yourself forward and get out and talk with the towns people one on one at first.

High priced wages for the dangerous oilfield work caused a lot of money to flow into oil towns, people bought houses paid exorbitant rent, they bought new trucks, campers, 4 wheelers, guns, beer, etc. 

Any other specific towns people are seeing?

Seemed like the townspeople knew of something they were trying to cash in on.

Then you have your tiny beach towns people love, like Cannon Beach, Pacific City, Gearhart, Neskowin, Yachats, and a hundred more. 

I can tell you it is amazing what the neighbors know and how much gossip and animosity there can be around tax sales, especially in smaller towns.   People

Towns people live in that can afford to, but still work in Peoria; Dunlap, Morton, Edwards, Pekin, E Peoria...Code enforcement is very aggressive in Peoria, the city is short on money and it is believed they are using code enforcement to generate income.

The buildings are only 20 years old, rents are low for the area, but I feel that is the market for small towns, people live in small towns for a cheaper place to live.

Having this place sit will cost you, and, depending on the area, may be difficult to rent after, (small towns, people remember why it was sealed up).As already mentioned, get with an attorney and local PD to find out what the process is going to be going forward with this place. the sooner you get started, the sooner you can make money there again!