Cosmetic upgrades will have the biggest impact on value for appraisal purposes, assuming the existing mechanicals are functioning well.I would say look at some homes that have sold for 115k - 120k and see what kinds of upgrades they had. 

Also, ways to avoid Mechanics leins by the subcontractors and non-performance penalties are also a discussions to have.

The plan is just the mechanism you use to get to the goal.

Now the city is requesting the following:1) Energy compliance documentation2) Mechanical (HVAC) Drawings3) Plumbing Drawings (Hot, cold water waste and vent. gas)4) Electrical (Complete Drawings)What kinds of people do we need to hire for these drawings and plans? 

That would also allow access to mechanicals in case of a maintenance issue.

I reserve the right to be wrong, but I think if you push that piece in, it will release the mechanism.

I'm not so familiar what the steps are to do that, or the detailed mechanics.   

New mechanicals, roof is 3yrs old.

@Jacob Breazile - Make sure to account for the following expenses:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance Property Hazard InsuranceFlood InsuranceEarthquake InsuranceUmbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy) Water § Sewer § GarbageElectricityNatural GasPropane9) General Maintenance (usually 5%) Upkeep § LandscapingSnow removalRepairsNew Appliances10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.)

Also I'm not looking for electronic or wifi connected, just a mechanical unit.