Great of you to ask, personally I would hire a certified home inspector. However, keep in mind that the older homes are generally more headaches! There is just so much that can go wrong, make sure you and your home inspector pay extra attention to mold, cracks in the walls, foundation, building type, what materials were used to build the home, roofing, electrical work, paint (can be very dangerous), plumbing, odor's (yes, a smell of a home can give you lots of clues), and what type of heating is used!
You might even want to read up on the history of the area. Think about it, 1920, that's almost 100 years old! Think about how much can happen to an area in 100 years, NY has suffered earth quakes, hurricanes, floods, and so much more! Natural disasters can flood the house and cause serious damage or even shift the entire foundation!