Most of my locations are in areas that a store maybe 10 minutes away. 

Might be worth chatting with a CPA or attorney who specializes in real estate to figure out what works best for your situation.

I'm in a similar situation.

Does anyone have any practical experience with similar situations and if so what was the outcome and how long did it take to resolve everything?

Your cash flow situation has just gotten worse.  

I don’t know your living situation or if there are any nice 2-4 unit buildings in the area you’re moving to.

I had to access my actual financial situation.

Quote from @River Sava: Hey April - Refinancing after a year if there's limited equity depends on your goals—lowering your monthly payment, cashing out, or switching loan types.The process usually involves checking your current loan terms, appraised value, and credit situation.

What is the best way to manage this situation before the inspection happens?  

. - You've got some pretty solid information above and concurrence that it shouldn't cost nearly as much as you thought, but on a separate note, I'd like to understand your situation a bit better.You are currently just looking for a Chicago property to purchase and asking the quit claim question in preparation for closing?