I doubt you would try Nevada Corporate Headquarters' patience with the probable myriad of questions your review of NRS 86 may suggest.You can find and access both of these sites (the 'NV SOS business portal' or 'NRS 86') by Googling these terms.You will find a requirement to have a Resident Agent - who must reside in the State of Nevada for the purpose of process service (and will charge a fee for this).  

Curious to have your informed opinions on whether or not you think this property might be worth pursuing—and what you may know about how to help the seller halt/suspend the process for purposes of getting it under contract.

The purpose is to alert an adult if a child walks out to a pool unattended. 

Will the lender allow us to build for the purposes of owner occupied residence ?

This will not lead to drilling on your property, but they could easily drill a well 3, 4, 5 miles away and access gas a couple of miles below your property.You may have missed out on a deal, unless your specific purpose was to acquire mineral rights.

I know there are pros/cons of Sole proprietor/LLC/S -Corp, but for the purpose of this question - Can I rent my now secondary residence in town A to myself?

As the tax code states:"For bonus depreciation purposes, eligible property is in one of the classes described in § 168(k)(2): MACRS property with a recovery period of 20 years or less, depreciable computer software, water utility property, or qualified leasehold improvement property."

I wrote the above for informational purposes.

You purposely destroyed the place and don’t care.

The entire purpose of “buying” the home is to access cash to pay down a heloc on another property.