Question about the level of Inspection for a Class C property that is over 40 years old

[Mohammed S.]

Dear BP Gurus,

What is the level of inspection investment to perform during the due diligence period for a 10 unit, Class C property that is 40+ years old in the South East part of Houston? Given the age of the property and also since this is my first time investing, I was planning on doing a comprehensive inspection with a certified professional. However, my realtor recommended the following:

"I’m just going to warn you though, since this is your first small apartment purchase, this is a Class C apartment, so it’s not like buying a residential house. You are buying the income stream. The units will not be wonderful and beautiful, otherwise it would be a Class B or higher. Inspection services notoriously pick these properties to death with every single “issue” they can find, so most buyers of these small apartments do not pay inspectors but rather walk the properties themselves and get specialist if they have concerns with a major item (a/c, roof, plumbing, those types of items).

I do like my realtor and respect his/her opinion but wanted to get your thoughts? 

Thank you and appreciate your help,

Regards,

Mo