How close is the plane to needing an annual? Maybe you and the owner
could work out something if you are seriously interested. Split the
cost
of the annual? Or if it isn't close, you pay for the annual, done by
YOUR guy
and he fixes the squaks?

An annual would be by far the best pre-purchase inspection. There is
no definition of "pre-purchase."

As an A&P I'd hesitate to do a pre-purchase. There would be too much
possibility of missing something with the possibility of someone coming
back on me. The paperwork search, which would have to be done for
an annual really should be done on the pre-purchase too. Does it have
a legal prop? What really is the status of the ADs?

You will reduce your exposure with a pre-purchase, however.

Bill Hale