If you're only putting in some basic cosmetic upgrades, and leaving older plumbing and mechanicals otherwise, and asking a low price for the location hoping for a quick sale, then you can likely get away with leaving it.I believe that most buyers in the Girard Estates area of Philly (higher priced homes) are going to be looking for a final product that has updated wiring.

If so, what is the 'mechanics' of it using Schedule E (w/o LLCs)?

Are the mechanics the same?

I've been told that I can address a conference of Attorneys and Economists at 9:00AM and sound like one of them, and address a group of car mechanics at 10:00AM and sound like one of them.

I know it’s different spectrums, but you don’t need to be ASE Certified to be a mechanic, but it may allow more pay, more “respect” and Etc... 

ive purchased 2 turn key rentals and one worked out great, the other has needed some work but the mechanicals were just plainly old and that cost me some money by not looking for one with newer parts.

I read in different groups and forums the posts of locating notes & the mechanics of the note, however my questions are more basic than that - what infrastructure should I have in place (such as I've heard that I need an 800# & that then I don't); what type of business entity as I start out; software and hardware needed; to what services should I subscribe or be looking at as I grow?

If it does, you can search for liens online - look for deeds of trust, deeds of release and reconveyance, federal tax liens, mechanics liens, etc.

The seller can't take all the cash flow over the years and then dump delayed repairs on you that will kill your returns for years and get a market premium price.Pay special attention to all the mechanicals, condition of the kitchens and baths etc. as those take a ton of money to fix and repair.

Very rarely do you ever see a renovator/builder who doesn't sub out mechanical and roofing, at the very least.