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If you have a lift, or access to one all you have to do is jack it up and look around for the signs of wear. For the car I take to the track occasionally, 07 Shelby, I have a list of things to check. So I would start with a list and just run through it. if you need help you can look for "tech inspection" and these are the things that have to pass before you can go on the track so that might be a good place to start. I even have a list that reminds me to remove all the mats in the car, the antenna, any loose items, and fluids to check as well as guages. As far as keeping the underside clean, after I did the undercoating I sprayed the belly with appliance paint like you would for a stove or fridge (black of course) but that stuff lends itself to easy cleaning. It sounds a bit anal but when stuff is clean problems are easier to spot-fixing them is another story!