Many you tube videos, has a podcast and free info.  

I see the home was built in 1910 so unless there have been updates you're working with knob and tube wiring, clay pipes, etc.

Now , a great athlete has a couple tubes in his throat, not able to speak- all in a couple seconds.

I'm surprised that the tank was disclosed; in my state of PA there is no seller's disclosure required for REO, and so you have to know how to identify these on your own.You will see things like fill tube and vent tube coming out of the ground.

If its an electric water heater, you can take out the bottom heating element, tape a smaller tube to your shop vac and vacuum out the sediment that doesn't flush out, to help it also.

It's cheap ($2 per tube).Another thing you can do is put foam gaskets behind your receptacle and switch plate covers on all exterior walls - this will reduce the draught and heat loss through the hole into the wall cavity. 

It has some updates such as central air and the wiring has been converted from knob and tube to a standard circuit board.

Is the electric knob and tube?

Hand tools I always keep in my bag are -hammer -12 in 1 screw driver -1' level with pitch on it as well-messuring tape-sharpie markers and pencils -utility knife -pipe wrenches-cresent wrenches -tubing cutters-basin wrenches for faucets-teflon & pipe dope-wood chiesels -electric striper-chamnel locks, pliers, bull nose pliers, needle nose pliers, linesman pliers.

I wasnt born this way, I went from zero skill to handy over the years...although I was forced to because my dads a hardass...in a good way haha But if its a cosmetic flip like mine, I would suggest diving in and do what you know you can do and for the things you cant, use the internet, this forum or you tube.