Always do your own due diligence because the city may have code violations or pending hearings against the prop that don't show up in the title search.

On the ICC (International Code Council) there are some free codes listed.

I see you are an engineer in healthcare,  reach out to one of your trusted architects or code guys and talk with them as well. 

And to directly answer your question, if you claim that $1,000 fixed by others to bring it to code.

There are certain neighborhoods and zip codes we just stay out of Bc of the area.

Alongside @Charlie Fitzgerald's  comments, above, you can tell what the local housing allowance is by looking up the BAH rates by ZIP code.

The most frequent issue we have with seller/REO title policies though is here they don't search for non recorded liens...recent code violations, utilities, etc. and those exceptions are in the B exceptions.  

Houses of the same age and same style in the same zip code.   

Duplex built in 1925 in 14609 zip code (Rochester, NY)City taxes $1,900/year, County taxes $1,300/yearWater $800/year (Uncle says he forwards the bill to the tenants but since it's a duplex the bill is in his name) Insurance $300/yearRent income $1,200/month ($600 from each side, is about to go up $25, there are currently tenants living on the property that have been there for 2.5 years)All of those expenses come out to about $358/month.

Hi,So I'm currently analyzing a property I found through Marshall Reddick that is in Memphis, 38119 (I look for the zip code in the forums but didn't turn up much).Essentially, this looks like it is in a good neighborhood; it was a distressed property bought a week ago @92K, and they are trying to resell it at 149K.Checked the rent with rentometer/craigslist and it looks like this could be rent for $1500 to $1700, depending.Here is the .pdf report.Only thing with Memphis/this particular area is that the education sucks.