However, it is need of some modernization(kitchen is 30 years old, plumbing and electric need updated, paint, etc). 

Overall Handyman cost was $350 for new shower plumbing (2 water stems to one, patch retiling).

Keeping in mind that it would be repealed to less regulations now but more regulations than circa 2008, it hopefully finds that right balance.

The codes, regulations and zoning are prohibitive.

There are zoning requirements, which regulate such things as set-back and frontage. 

That should set you back about $100 and will provide accurate information on the age and estimated useful remaining life of the roof, plumbing, electrics and HVAC.

It seems great but you just never know how high they can get especially with regulations being cut back in the months to come.This is what I recommend.

Unit mostly needs drywall plus I want to install stackable W/D in unit which will require a plumbing run and rewiring all electrical to get rid of knob and tube.

Scott's book on flipping and am also working with an agent who has done a few flips.I have an opportunity for a short sale a 3 bedroom 1.1 bathroom home with attached garage built in 1988 and with following data:-List price: $85,000-Rehab Cost: $28,000 (seller has disclosed $24k of major plumbing fixes)-ARV: $130,000 (based on comps in the area)Max Purchase Price (MPP) based on all the expenses is coming to $77k.

Hi @John Arendsen Yes I am, there are many issues regarding city regulations that I am analyzing before I can make a final decision whether is a good idea for me or not.