Need advice on situation regarding my first potential property

[Cameron Ysidron]

So I've had an interesting turn of events recently. I'm currently renting a small condo, and my lease ends in June. I planned on buying this condo from my landlord to renovate and hold as a rental. Recently, I got an off-market lead on a 2 unit property in an amazing area of town by calling the number listed on the for rent sign on the property. The owner said they would sell it for 200k, which seems to be a really good deal even just based on the price of a vacant lot in the area. I've formed a pretty good relationship so far with the owner, as he is a big time commercial investor and also started out at a young age. I explained my situation to him about being in a lease and not really able to buy until the lease ends, and he seemed to understand but encourage me to go ahead and try to get pre-qualified for a loan - which I'm doing. 

Here's where I'm looking for some advice: I don't want this guy to lose out on rental income by leaving this property vacant until June, but I also want to be able to secure the property by then. Depending on whether I can get qualified for a loan, what does the next step look like? Should I go ahead and get it under contract with him and do my inspection?

Thanks for any insight!