@Michael ZackI've purchased the masslandlords ones they are not bad, but I would also reccomend having a lawyer look them over as well 

I’m guessing in most areas this would be a struggle unless they have bad credit and are used to doing this

Some clubs put out great content and have great speakers. 

Thanks so much for your help everyone, that's exactly what I was looking, seems like the severity of the flood is not as bad as I think.

I can think of a few other ways to make use of the land, perhaps, to collect revenue, but for now, from an investing standpoint, how would you guys approach this deal assuming its a good one ( low monthly payments, no or very low interest).Is it uncommon to have contigencies in play in case I can't make use of the land or sale it to someone else within a timeframe so I'm not stuck with a bad investment?

Hardwoods were neglected/scratched badly and carpets ruined by a tenant.

It's either in a bad part of town or in a far suburb still in development. 

Have other investors gone into flips expecting to sell for the highest comp in the neighborhood or is this a bad strategy?

Plan on failing a few times but decide to make more good decisions that bad ones and know that this is a marathon and not a sprint. 

Top notch...no salesman pitches...good networking and good speaker.