I literally picked this one because it was all I could afford and didn't have significant damage.

Home value is about $260 with payoff of 72k.Question - what strategy can I invoke to come out ahead and possible buy/sell and effectively live rent free? 

Return of possession of the unit back to you as soon as possible with the least amount of damages and with the least amount of monetary loss.Everything's negotiable. 

Damage control. 

What is the most effective way to find the most up to date contact info? 

This also is applicable to the sale of the property and satisfies our 10% down required from our lender (SBA 504 loan -- good for owner-occupied small businesses, which we are and is a whole other topic on a different strategy to acquire commercial RE).2) From our effective date, the closing date is set for 365 days.

For example, if the roof is remaining, I would remove the shingles (unless your are layering them) and make sure there is no sheathing/plywood to replace or any other 'unexpected' damage then you are more certain of your costs.

I rehabbed a log cabin and there was one place about 4 houses down, that was damaged by fire and never rebuilt.

There was some damage in the apartment worth $150 dollars (which I have proof and receipts.

As an attorney, no doubt you understand FRAUD BY INDUCEMENT and the damage done to sellers by many of these operators.