My flip house didn't meet appraisal - what are my options?

[Bill Hinshaw]

I listed a flip at 250k, and accepted an offer at 250k with 5k to buyer at closing with additional repairs that were requested post inspection. The appraisal came in at 243k and includes required repairs. I have not seen the report yet to know the extent of repairs, and I do not have the appraisal report. I should have both shortly. This is an FHA loan.

I guess I could amend the contract to 243k with no money to buyer at closing, and only do the required repairs for appraisal. Or just cancel the contract. Do I have any other options? Can I request a second appraisal at my expense? We have comps to support our price.