I'll comment on some of the suggestions based on my experience in a few 24 hour events...
As some have said, time on your feet is a big factor. The long hours beat up your feet. I don't mean blisters, but rather fatigue/pain/swelling.
For most people there ends up being A LOT of walking vs. running. I didn't practice walking and the different biomechanics between running & walking had me hurting badly in new places that my long runs didn't prepare me for. You might want to include some long walks in your prep phase.
Unless you are in the kind of shape that suggests you could run most/all of the way, then incorporating alternating run/walk periods from very early on seems to pay off better than running as far as you can then resorting to walking.
24 hour events on a looped course are fun! (For me that means 1.5 to 3 mile loops, not a 400m track.) You will see the same people many time during the event. There will be people who are slower than you (almost guaranteed) who you will pass occasionally, and there will be faster people passing you every once in a while. There will also be people that you find yourself pacing with for long stretches and you will probably make a few friends along the way.
As others suggest, having regular access to aid is really valuable as a time saver and also serves to mentally break the event into manageable chunks.
BTW... I'm 59 now and although I've been a runner since I was 16, I didn't begin doing ultras until I was 53. Before I did my first ultra (50k) on a whim, with about 2 weeks warning, I was running over 60 miles per week. I surpassed my goal in that first one, but never really did as well in the longer (i.e. 24 hr.) events. I'm kind of over them now due to health issues, but it was fun to take on a new challenge for awhile.