A method for determining a health indication of a mechanical component includes: receiving, by a processor of a multi-sensor node device having a plurality of sensors, a configuration defining activation of the plurality of sensors based on a type of mechanical component to which the multi-sensor node device is coupled and based on a level of energy harvesting available at the multi-sensor node device; determining to activate a first sensor based on the received configuration; collecting data from the first sensor relating to a first parameter of the mechanical component; determining to activate a second sensor based on determining that the data collected from the first sensor indicates a threshold is exceeded; collecting data from the second sensor relating to a second parameter of the mechanical component; determining an initial health indication of the mechanical component; and transmitting the determined initial health indication to a remote computing system.