Do go to the property towards the end of the inspection and walk through with the inspector having them point out what they found, as ultimately you’ll need to decide for yourself how to proceed with those findings.

(happy to walk a property with anyone and give rehab insight)- Have a modest (around 50k) to invest in my first property.

It's quite a blessing at our age (we are both 22) to walk away with ~$40,000 (once we paid back a $50,000 down payment loan to my grandparents) pre-tax.

I was going for a walk at the time.

Seems there is some leverage there, but only if you are willing to walk away. 

After paying the note and expenses I'm realistically only walking away with $5-10k and that in my opinion is generous.

Bring a GC with you in your initial walk-through.

Lessons I learned:Have a Balloon payment no more than 3 years awayCollect Down payment as it will give tenant incentive to keep paying and not walking away from the house.Have a higher interest rate like 8-10%Price higher than what it's worth as you will have to discount the note if you were to sell. 

This is the first walk through, there has never been an inspection before or any photo evidence.

(Half of first month’s rent for new tenants, advertising fees, yearly walk-through fees, callout fees, and so on.)How they enforce late feesHow often will the properties be inspected each year?