Look forward to seeing your future progress.

My purchase price was lower than the assessed value.

@AndreaHello Andrea, I may be able to give you some insight but I'd like to take a look at the damage to assess the project and give you a better idea of what needs to be done...I.E...whether it's a simple skim or if a complete tear out and redo is your best bet.I've been working in complete home remodeling for the past 10 years now and have been running my own painting & drywall biz for the past 3. 

As just a few small examples:You can "flip" a stock that is undervalued (except instead of hiring contractors to improve the property, you're relying on your assessment of management's ability to do so).

Different areas have rules that they won't post a property for auction till the taxes reach 40% of assessed value or some other %.  

Also awesome automation capacity.Basecamp is my preferred tool when working with Buyers and I want them to interact, see progress, etc on the various things we're doing. 

I am sure the rehab money will be in draws based on the progress of the repairs.

So the clock has not even started yet in your case-I would go ahead and assess your damage and get an itemized list together and send an accounting along with a 10 day demand letter for any amount owed including damages,rent, late fees and all other charges.  

First report back on progress.

Do you have any tricks or preferred methods for assessing an available buyer pool.My ulterior motive for asking is there's a sweet deal in Stone Mountain for $85k with a slightly-more-than-cosmetic rehab needs in a upper-middle class pocket where the surrounding houses are in the $150-$160k range.