Needs some work to mechanicals, electric, plumbing, heating3.

Much of this was the exact mechanics of the transaction.

I assume on mechanicals/electrical and it gives me a very basic tell tale of whether or not to schedule a showing. 

My guess is that its some kind of adhesive that was used to glue down the subfloor in addition to using mechanical fasteners.

I cannot speak to the North Texas area, but here in Orlando there are several investor-friendly inspectors that can provide a "risk assessment" which is more of structural and mechanical inspection.  

You may wish to confirm that the new 401k provider has experience with the particular investments in which you intend to invest your retirement funds as you very likely will have questions in terms of the mechanics (e.g. how do you invest in real estate, etc.).3.

As mentioned above by @Rick Pozos, since you already have a hard money lender in 1st lien position, your family member's interest is subordinate to that lien, and likely any potential mechanics liens placed by unpaid workers given the specific timing of this transaction with work already taking place.

I’m assuming it is structurally and mechanically good.

In that type of a scenario, the contractor doesn't have a "mechanics lien" on my property. 

Mechanicals were also superior in the houses, recent HVAC, central air, and good roofs.