I'm a Mechanical Engineer currently working on my PE, but I want to start investing in real estate.

It needs rehab but mechanicals are good. 

Thank you Aaron, I have used the website before and today, it does not show minor/secondary liens second mortgage, re-finances, and mechanic liens.

SMLLC is your path of least resistance and you can add in other mechanisms later

The mechanics of the deal are not too complicated, although as others have noted you can't advertise the property and then exclude people based on protected class including gender and family status....at least not legally. 

Then any structural repair (framing, subfloors, etc)  Then mechanical (HVAC), plumbing then electrical because these trades need access to walls, floors, and ceilings which can damage them.

@Kelsey Lee One mechanism for no-money wholesaling is "co-wholesaling."  

I get to put in the microwave and trim kit (didn't fit, needs kitchen guy back), and the range hood (can't finish until the mechanical final), so basically I can't do anything except recycle (and pay bills, my two main roles in this project).Post 56 - glass showerthe glass crew is back with the custom shower install.

@Jordan MoorheadYes, an IRA is a mechanism to set aside a portion of your income and defer the taxes on that income.  

If this property is being sold to you as turnkey, if it were me, I would want to make sure the mechanicals will survive for another 5-7 years, that everything is up to code for that city/county/state, basically try to minimize huge capex in your first few years of ownership.