Do You Think it is Better to Inspect Yourself or Have a Third Party Inspect the Home?
I would say always best to err on the side of caution. Third party inspections may give you more leverage to negotiate. Always good to have a fresh set of eyes on things as well. Might save a couple of upfront bucks without one, but get beat up in the long run.
I assume since you posted this in the landlord section that you're talking about period inspections you do on a rental property that you already own? If you manage yourself, probably just do the inspection yourself. It typically doesn't take that long. You're just looking for signs of trouble such as leaks, damage, or unauthorized activity.
If you're talking about a home inspection prior to purchase, hiring is great and sometimes even required, but finding a quality home inspector can be a challenge sometimes.
Do you mean for purchase? Or during tenancy? We've learned to make sure we get down to our properties at least once a year as we've noticed property managers just don't inspect the way an owner would, so we visit and plan on either arranging for or taking care of the things we find. At purchase, it depends on if we're comfortable after we've thoroughly inspected it ourselves. If we are in doubt, we'll hire a professional.
Both. We manage our own properties. For periodic maintenance inspections we prefer to do it ourselves because we are on the look out for any lease violations, not just things to do with the buildings. We sometimes bring our plumber or electrician along to address things that we know need to be fixed or updated. We also periodically call in a professional inspector to give a look at the entire building, including crawl space and attic.