Working as a mechanical engineer as my day job saving as much capital as I can for my investments. 

(Roof, mechanicals, etc.) $33k may sound like a decent deal now but if your long-term renter decides to change her mind you may have a $15,000 rehab to do before you can rent it out again...and if the water heater or furnace goes out at the same time...ouch.

I work as a mechanical engineer for a consulting firm in the Baltimore area, but my passion has always been for running.

Domestic hot water, and; Electricity adequate for lighting and any mechanical equipment within the home.

The property had an existing 100k mechanics lien that was guaranteed to be wiped once we took possession.

I would first explore ways in which you can maximize existing space before going that route - reconfigure closets, for example, or stacking landlocked features - closets/bathrooms/mechanical/etc. 

I am involved in construction sales & operations on a daily basis and have a high level of understanding on how the business operates, specifically the mechanical aspect (my specialty).

that's great to hear you have an interest in real estate - I got a degree in Mechanical Engineering - i was really good in design / math - but just hated the type of work..

Or the house need a new round of roof, mechanics, electric?

Just wanted to add that in order to get the enhanced title insurance, the one that lets you transfer into a trust and carries over to beneficiaries of trust and also protects you from post-policy mechanics' liens and clouds on title, you need a survey.