We investigate the young stellar objects (YSOs) in the Lynds~1641 (L1641) cloud using multi-wavelength data including Spitzer, WISE, 2MASS, and XMM covering ~1390 YSOs across a range of evolutionary stages. In addition, we targeted a sub-sample of YSOs for optical spectroscopy. We use this data, along with archival photometric data, to derive spectral types, extinction values, masses, ages, as well as accretion rates. We obtain a disk fraction of ~50% in L1641. The disk frequency is almost constant as a function of stellar mass with a slight peak at log(M_*/M_sun)≈-0.25. The analysis of multi-epoch spectroscopic data indicates that the accretion variability of YSOs cannot explain the two orders of magnitude of scatter for YSOs with similar masses. Forty-six new transition disk (TD) objects are confirmed in this work, and we find that the fraction of accreting TDs is lower than for optically thick disks (40--45% vs. 77--79% respectively). We confirm our previous result that the accreting TDs have a similar median accretion rate to normal optically thick disks. We confirm that two star formation modes (isolated vs. clustered) exist in L1641. We find that the diskless YSOs are statistically older than the YSOs with optically-thick disks and the transition disk objects have a median age which is intermediate between the two populations. We tentatively study the star formation history in L1641 based on the age distribution and find that star formation started to be active 2--3 Myr ago. ; Comment: 112 pages, 46 figures, 6 tables, accepted by ApJs