I've been researching pet octos now for months and someone down the road offered me a beautiful, almost new 16 gallon bow front tank for free. I was anticipating purchasing a 30 gallon, but this tank is hard to pass up. What do you think? If its do'able, what is the best species to try to find for this small a tank?

We recommend at least 30 gallons for pygmy octos, 50 gallons and up for some of the larger octos.

The larger octos are generally much more interactive, and the pygmy octos are generally very shy and strictly nocturnal.

You might check out this thread: http://www.tonmo.com/forums/showthread.php?t=13937

Have a look at the Journals and Photos forum to get an idea of what species people are keeping and what they need.

Yes.

16 gallon would make a great tank for live food for your pet octopus...