How to approach a neighbor to buy their house

[James Louthan]

I have a neighbor who is only at his house in the evening and leaves in the morning.  I know his name through our mutual neighbors who's my friend.  His house needs a ton of work, he's owned it since new (looked it up), so for about 25 years.  What i'm wondering is....

1. I'm new to this world of REI. I would like to contact him without offending him and ask if he would be interested in selling to me. either now or when he's ready to sell.

2. should I find out how to finance it before I ask him.

3.  should I A) sell my current home to purchase and rehab his home to live in or B) keep my current home and rent it (I think I'd like this if financially possible).

4.  Any other questions of info I should ask or you folks have to offer?

My first post and hope to become a more active participant here on BP.  So much info...I'm trying something new...act first rather than overanalyze and do nothing and stay in my same position.

Thanks for your input

[Lance Wakefield]

@James Louthan

I would just go talk to him and ask him if he would sell

Dont worry about financing until he says he will sale and you have a price worked out. You can't finance it if you don't know the price. 

Dont worry about #3 until 1 and 2 are figured out

I would ask him if he wants to sell and then if not when he might be ready to sell. Pretty straight forward good luck