Our current research focuses on simultaneous structure and property characterization of individual nanotubes, nanowires, and nanocrystals by using a newly installed TEM-STM (Transmission Electron Microscopy-Scanning Tunneling Microscopy) system in our laboratory. The TEM-STM system integrates a STM probe into a high-resolution TEM (HRTEM, JEOL 2010F). The STM probe can be manipulated to approach any interested materials observed in the HRTEM to perform in-situ mechanical, electrical, and thermal property studies, thus enabling direct correlation between the atomic-scale microstructure and the mechanical, electrical, and thermal properties. By using the TEM-STM system, we probed the transport property of each individual wall within a multiwall carbon nanotube (Huang et al., Phys. Rev. Lett. 94, 236802 (2005)) and discovered superplastic deformation mechanism in carbon nanotubes (Huang et al., Nature 439, 281 (2006)). One NSF proposal directly associated with the TEM-STM system was awarded recently (NSF NIRT 0506830, $1,250,000.00, 2005-2009, Integrated study of thermoelectric transport and energy conversion in bismuth-based nanowires). In summary, the TEM-STM system provides unprecedented opportunities to explore how nanometer length scales affect the mechanical, electrical, and thermal behavior and reliability of thin films, electronic devices, and nanostructures.