I'm in the process of purchasing my first rental (verbal agreement submitted this weekend, hoping to finalize Monday).

Think towards raising rents though because if there aren't many available that is what you will need to do.To find out about the sewer line you can hire a plumber to run a video camera through the line.

go take a look at some of Scott carsons videos.

Unsure in your state, but the MLS's I am aware of are tightening restrictions on "assistants" using MLS...an unlicensed individual is not permitted the same liberties, like managing property, submitting offers, or showing properties...and violations may lead to loss of licensure...just be careful3.

It gives you a video of everything you did just by choosing a date that is of interest to you.  

Check out the resources in the "Education" section on BP on wholesaling:BP wholesaling articlesUltimate Beginner's Guide to WholesalingCheck out videos on Youtube as well, for effective methods, scripts, etc.I don't wholesale so I can't speak from experience, but I don't think too many of them work with contractors as far as estimating repairs.

So as im going through books and videos trying to get my feet wet this oportunity falls in my lap.

That said, I've read some situations where if the property you're looking to buy already has tenants living in it then you can submit the lease agreements to your lender and you can use the rents as part of your income to cover the mortgage.

Since my name is on the loan, how does this work once I have submitted a Quit Claim Deed?

I watched a video from the Quick Water Heater Company who has some informative videos https://www.youtube.com/watch?