Thank you both!
Changing the fluids is definitely on the list as well. I've heard horror stories about trying to get the oil filter off and I'm hoping the PO made the switch to a K&N filter.
Hopefully the next warm day we have I'll take all the fairings off and just do a complete rundown of everything and try to figure out what's going on with the blinkers. The rear of the bike has one of those "all-in-one" brake light/turn signals, but I'm going to pull out the soldering gun and heat shrink tubes to make sure everything is properly connected. I ran into a problem like this on my old R1 and noticed someone clipped all the wires trying to figure out how to hotwire it.
The worst part about purchasing any kind of vehicle used is when someone tries to modify something, doesn't know what they're doing, and it ends up costing the new owner all kinds of time and money. Patience, research, the proper material between the ears, and often times the right tool is all you really need.