I have come to the point in my real estate investing career where I know in order for me to continue to grow, I really need to put a much greater emphasis on networking.  

There's no sellers disclosure, appears moderate amount of structural/mechanical work, additionally- minor cosmetic; asset manager rejecting lower offers- only basing property on better condition comps in the area, raising the list price to amount well above any thought of making a profit in a few months.

For example, I don't think a mechanic's lien will come up in a court search.  

I suspect the home doesn't have all modern mechanicals. 

Having the mother cosign is great but I wouldn't put an emphasis on it, she sounds like a risky tenant and unless finding qualified tenants in your market is challenging I would hold off on this one. 

I look hard at the structural soundness and mechanicals of a building.

I would have them walk between 6-10 units, common areas, roofs, mechanicals, etc.

If the house is affordable, since it was built 30+ years ago it most likely needs all new mechanicals and then becomes too costly to repair and still be affordable or has some major costs in the near future.

I head straight to the mechanical first...

I don't think I'm willing to give anybody $X,000 of money I can't get back if I can't inspect the property.And what are the mechanics of the transaction?