This will avoid any 'mechanics lien' surprises. 

I have wanted to buy my own truck for years now but I am not mechanically inclined by any means.

@Jesse Mitchell for the most part mechanicals have little affect on the market value.

I would suggest trying to learn some of the simple stuff via YouTube or some basic home mechanics books you could get from the local library. 

I would say if all mechanical systems are working, there's no leaks, and some sense of integrity in performing the work: then someone could potentially be ok not completing all the fixes required to make a place market ready and rent for cheaper.

Forgot to add, they do not meet International Mechanical code, therefore i believe you would not pass any inspection for them.

Based on the year the home was built, make sure all of the mechanicals are in order and that there is no lead based paint.

The house is in good shape, needs A LOT of cosmetic work and some mechanical work.

I am a 29 year old Mechanical Engineer by degree and a Robotics Engineer/software programmer by trade. 

If so, then it is what it is and is long done.If by some mechanism you were able to take the funds without that being classified and reported as a distribution (unlikely, but possible), then you have a bigger issue and should consult with your CPA as to how to fix the reporting and pay any necessary taxes and penalties....