Should I Permit my House Hack?

[Vance Payne]

Hello,

I have a home in the Denver area that I bought recently. I am looking to add a kitchen to the basement and add a door to separate the top and bottom levels. I do not want permits if I can avoid it as we want a quick turn around. 

What are the potential risks of not getting permits? The project will include rough in plumbing and electrical and an upgraded electrical panel.

Thanks in advance for the support!