So, if I put baseboard heat in, I'd have to upgrade the service to 220, or I an keep the 110 and put in a furnace for about the same costs.All the duct-work is still in the property and is in great condition.

Due to space constraints, I can't put in a central unit with duct work.

I don't think you would ever recover the costs, especially if they have to install duct work, a newer furnace and the compressor.

Plumbing I mentioned and would be a decent part of the cost I wouldn't even worry about gas for a studio and make it all electric (electric HWT, Stove, radiant heat if you can) Duct work - I didn't think about this because mine have electric floor heaters already.

i dont see why youd opt to use window units if you have existing ductwork. 

Next question, if my lender says i must live as primary home, but the lender gave me 2 months before moving in, but there are corrections that need to be made based on sfh inspections (purchased home as is after the inspections - i was able to get a reduction of the overall price of the home by $5k) and it may take me more than the 2 months to correct the issues ( duct work sprayed and cleaned and new windows) do I have to move in?

For this violation, I have an attorney involved as this makes the seller responsible for all required repairs once the inspections take place (and there will be repairs - no duct work on heater). 

During my inspection period, the home inspector had pointed out some issues with the heater (no return ductwork specifically). 

Depends, do you need duct work done?

Plumbers, Electricians and HVAC pros have to put their wires, pipes and ductwork behind the walls.