Finally, the last cool thing I am going to do is use my extensive knowledge of social media advertising and web design to ensure I'm in front of these distressed owners by not only getting into their mailbox but also their social feeds.

Since you have knowledge of the incident you may have  a subpoena issued but you definitely would not be a party to the suit.  

Its a good way to gain a strong knowledge base, expand your contact list and you can still earn some cash in the meantime. 

There are good investors here that you can bounce ideas off of or you can also find an investment knowledgeable agent to help you as well - just make sure they know investments, the area you are investing in, and will help you through the process. 

I consider myself a sponge and am seeking to gain all insight and knowledge on real estate investing.

First, utilize all the free resources on here to gain valuable knowledge from experienced real estate investors.

I would like to get feedback from my fellow realtors with more experience and knowledge on the best way to use these funds.

If you are uneasy about it, I would talk to your lender and have a quick chat with a knowledgeable real estate lawyer.

You bring so much to the table with your experience and insurance knowledge.

As a realtor, I go on probably 30 inspections per year for other people's properties, so I have picked up a lot of building knowledge that way too.