Just picked her up last night; When I press my rear brake lever, it will go all the way down without any braking power.

Where should I start with troubleshooting this?

 

Id say try bleeding the rear line...can you see fluid in the rear reservoir?

 

You could just use the front.... j/k

Like Speedy said check the fluid level, also check and make sure someone didn't leave the bleeder nipple cracked open. also make sure the lever is actually attached to the master cylinder.

 

just got a really funny image in my head of someone leaving the bleeder loose and slamming the pedal down lol.

 

Bled lines this morning... didn't appear to be any air there. Pads look like there almost completely gone... So I will be ordering some pads for front and rear and see if that solves anything.

Once the pads are used up, shouldn't I still have feedback on the rear brake pedal?

 

you should. Try filling a small jar with brake fluid and then get a piece of hose that will fit snugly on the bleeder valve and let it hang down into the jar of brake fluid. The open the bleeder valve up n pump the brake peddle until you dont see any bubbles.

Also might wont to check the adjustment/travel on the peddle, the PO may have backed it off so it wouldnt work

 

Sorry to be such a noob; but how would I check/adjust travel?

 

Should have a adjusting bolt w/ locknut(s). Loosen the nut and twist turn the bolt. One direction will make it point down more and the other up.

 

Check the line for cracks and or any holes

 

Didn't appear to be any air in there. So you where able to pump up the pedal crack the bleeder and push out a good amount of only brake fluid? If so you need to start looking into maybe having a frozen caliper or other caliper issue.