So, youve had a couple of very knowledgeable people reply and Im infinitely less qualified and cant add anything, but here I go anyway. First of all listen to them. Second, if youve rented it, you might take it back to whoever you rented it from and ask them if they can set it up or if they have something else that is set up better. If youve borrowed it from school or something, you might check with them before you have work done on it. Also, how long is the loan for? Is it worth your investment to improve the thing and then return it?
Observations from the pictures: Aside from the fact that it looks like dogs***. Through the blurry photos I see several problems, some I wont comment on, because I agree that you shouldnt be fooling with it if it and I dont want to tempt you. It looks like the bass side bridge foot isnt sitting flush on the table, which it should be. I also have to ask, is it possible that you put the bridge back in backwards? Hard to believe that you would have, but it sure doesnt look right to me from any angle. Ive seen fingerboards cut like that before, Im sure that was on purpose. If its your bass, its a matter of preference, but since its not I think you just have to realize that thats they way someone wanted it. Speaking out of my element a bit, I think if the soundpost was the right length then it SHOULD have fallen when the bridge collapsed. The fact that it didnt, plus your descriptions and what I can decipher from those photos suggests that that is one seriously poorly set up bass.
If it makes sense for you to have work done on it, it definitely needs it and its not the type of tweaking that you can figure out on-line. If its not yours to improve then you might want to just take it back. I dont think youre going to get much useful practicing done on that thing.
By the way, none of that is commentary on the quality of the bass. The instrument itself may be just fine, but any instrument is only as good as its setup.