I know that cities/counties do not give approvals for smaller things, like dry wall installed before electricals are  inspected.

So if you have the walls up and floor in, you may have to pull sections of flooring and drywall to expose plumbing for inspection.  

Is that easy to do and keep doing every year or will I hit a wall?

@jaron walling - yes.

How much do you pay for drywall guys to repair a wall or ceiling?

We've had good experiences with the new peel and stick wallpaper, it is install friendly for the DIY'er, have modern designs these days, and great for accent wall/areas like yours.

Quote from @Jaron Walling: Are you making low offers on distressed properties?

They instead focus on fully gutting their projects and install entirely new kitchens, bathrooms, fireplaces, accent walls, etc. and any exterior or mechanical upgrades necessary.While I understand this whole hog strategy, part of me says this will end up increasing the value of a home so far beyond other homes in the surrounding area that it wouldn't sell for what it's likely worth.

There are holes in the walls with wires actually hanging out.

New roof, new siding, concrete patio, retaining wall, deck, windows....made it look nice.