Purchasing the property I’m currently renting

[Account Closed]

I’m interested in purchasing a duplex I’m currently renting. It’s in an up and coming neighborhood, the unit next to me has been vacant for months, and their lawn is completely overgrown. I see this as the perfect opportunity to purchase my first deal from the absentee owner but I don’t know where to start!

Should I have the property inspected/appraised?

As a tenant, am I (legally) allowed to? (My biggest question)

When I reach out to the owner should I mention the inspectors findings, if any?

HELP! I live in a fairly competitive market and I don’t want anyone to take advantage of this deal before I can. 

[Russell Holmes]

@Octavia I. I wouldn't suggest an appraisal or inspection before speaking with the owner. You'd likely need access to both sides and you'll spend close to $1000 getting both done. I would suggest your first step to be to have a conversation with the owner, see whether they are interested in selling and if so if they have a price in mind. If you can come to an agreement on price or at least word that they may be willing to sell, you can then submit an offer to them with inspection and appraisal contingency. Once they've accepted your offer, inspection and appraisal are part of the due diligence. however if they don't want to sell or want too much for it, it won't do you any good to have it inspected or appraised.