Because I know that this is common in my area for students, are you going to furnish the apt or will your future tenants bring their own furnishings?

Unless you have a background in historic building restoration I wouldn't recommend that.That being said - definitely get an inspection and try to find an inspector familiar with old buildings. 1920s buildings have different common pitfalls to check than 1950s buildings and 1990s buildings.

BP folks, on my profile, under "More ways to connect" I have this:https://www.facebook.com/krisbennettstorage/But clicking that link leads to the wrong URL, or this: https://www.facebook.com/https://www.facebook.com/k...

Enough equity in the deal to leave room for first time mistakes and errors in calculations.How did you find this deal and how did you negotiate it?

@John S Lewis  a few ideas, some easier than others...1) search lien records through the county2) check the system itself (panels and indoor hardware) for labels placed by the installer in case of service needs, pretty common, then call them up3) see if any neighbors have similar systems and ask them who they used, then call them up4) call local installers and ask whether they worked on that property5) looked up previous owners and ask them who installed, but check with installer about status rather than rely on the foreclosed party's representation6) Don't worry about it? 

My question is i) is it common to add a second bathroom in the basement, and ii) the basement is currently unfinished - would I need to finish the basement in order to have the second bathroom?

Landlord is responsible for roof, structure and common area maintenance (costs of which get reimbursed by Tenants)Of course, leases can have variations of the above.

Additionally, if the machines are damaged, you know who is accountable.If you are compelled to have a common laundry room then you need to explore access restrictions (keyed or keycode) and, possibly, surveillance.  

@Bill Brandt Yes, it is becoming more common to be able to buy fractional shares.Warren Buffet is quite a character and I believe the only reason he has never done a stock split for the A Shares of Berkshire Hathaway is because he likes it that high. 

@Derek Hutson I don’t work that way and wouldn’t work with someone who does personally but it’s very common in the real estate industry.