What is the best and cheapest way to jailbreak an Iphone?

Ok I have 3 questions.

I've accepted an Iphone 5 as $50 credit from someone that still owes me money. I've been an Android user against the Apple machine for a few years now, but a $50 Iphone5 is worth more than $50 ya know, and I admit I like the hd clarity. Anyway the new IOS 7 has an activation lock on it from what comes to find out is a find my Iphone feature to deter theft. I honestly don't know where the guy got the phone from. Anyway I took it to a mobile phone shop and the guy tells me he can't do anything until a "jailbreak" is released for IOS 7.

question 1) How likely is it that a jailbreak will allow me to bypass the activation lock?

question 2) If so, what is the cheapest way to jailbreak an Iphone? Can you vouch for any sites?

question 3) There currently isn't any jailbreak programming for IOS 7, when do you think an IOS 7 jailbreak will be available?

I did not know jailbreaking an iphone could release its lock.

you can still try getting it into the recovery mode and restoring it from there.