Should I do a professional inspection?

[Dhanush Kondoth]

hellol all,

My offer just got accepted for an REO. It's a 1950s built cape code style home on a slab with 1 floor. Things "look" straight forward as far as issues are concerned. I intend to replace all the mechanicals just to avoid future headache.

My question is,should I spend the $300 on inspection or should I just put that money into a good appliance for the kitchen?

By the way this is my 1st property and I plan to hold it as a rental. 

What do you think I might miss out on if I don't do a professional inspection?

Any thoughts and suggestions will be highly appreciated. 

Dhanush