Claim inspection costs for a cancelled contract?

[John A.]

I couldn't find an answer to my question through several searches, so here goes.

Background: I own a SFR that is rented out. I do my own property management for this house. I am currently trying to buy another SFR to rent out.

Situation: I had a contract with a seller on a SFR. The inspection showed problems with the roof. The seller refused to repair the roof. I elected to cancel the contract.

Question: Can I claim the costs of the inspection (I paid the inspection cost) as a business expense?

I think the answer is Yes. But, I haven't found anyone else with a similar experience/situation. I know you can't give "official" legal/tax advice. But what's your opinion? Has anyone else dealt with this?

Thanks in advance! This is a great place to learn the ropes.

John