I am looking for a recommended home inspector.

Any recommendations on quality inspectors?  

A real estate agent and a good inspector.

The agent is saying I would need a licensed inspector to state defects if I want to be able to walk away from a deal. 

For those afraid of needlessly spending more money than they have to; consider getting a basic inspection, and then ask the inspector whether they feel there is any value in deeper inspections or not.Choose a reputable, unbiased inspector.

.* Contractor requests inspection* Bank sends third-party inspector, who writes a report showing what has been done (AKA: NAILED IN PLACE)* After getting the OK from contractor and owner, bank releases funds (Wire deposit is becoming common... usually the money goes straight to the contractor)When we do work with banks that draw this way, I tell people to expect me to request 8-10 draws throughout the course of the project.The contractor will need to be vetted by the bank, so things like license and insurance are mandatory.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

Lenders, closing attorney's, appraisers, inspectors, and brokers are in business everyday to help and advise you on the purchase.

You might need a good inspector to give you report about all the house issues . also a contractor to give you estimation of how much money and work needed to make it rent-able, remember if you want a good family to rent your home , you need to have a neat kitchen and rooms. old houses can have higher bills, leaks under ground , tree roots pushing the structure of the house from underground , beside like you said , out of date building codes that any simple fix might require re working all the house.