Some mechanicals 20 years old though, so in between on condition.

I recently graduated college and started my career as a mechanical engineer and have recently decided that while I love my job I don't want to work for the rest of my life, and real estate investing makes the most sense to me in order to gain financial freedom before I turn 60.I have been reading a ton of real estate books and discovered the bigger pockets book on rental property investing which gave me a great introduction to all the topics and possibilities in real estate.

If the mechanicals of the home (plumbing, electrical, roof, and HVAC) are all centralized to a single unit, I think your home inspector stands a much better chance of spotting an issue as opposed to a multi-unit with multiple independent systems that may or may not be accessible due to tenants.As for closing costs, try to push the closing date until you have the funds available?

Are the mechanicals (furnace/boiler/water heart/appliances/etc) of the property sound or are you going to be making an investment in these in the near future?

Treat this the same way you would any other type of new business, whether it be a grocery store, auto repair shop or landscaping business. 

It was full of people I didn't know, including the daughter (home on a school day), the older son playing Grand Auto Theft for hours (had lost his job).

Your lease should spell out whether the lease auto renews, whether it is done at end of the lease term etc... 

BTW, a very good way to begin understanding the terms and mechanics of buy-and-hold analysis is to use the calculator and learn every calculation it is making.  

I'm also rebuilding a little 50cc ATV with the kids to attempt to teach them some mechanical skills and the final parts came in last week.I welcome any advice any locals would have and am excited to be a part of the BP Family.

The mechanisms, documentations, effects, and opportunities are the same for SF, MF commercial, raw land - any kind of real estate.