I would either plan on fixing it, selling it, or altering your current strategy.

I'm really hoping their concept works out and I completely agree that the LAMP NAL 506(b) Rube Goldberg sites will be both non-competitive in the long run and I am guessing that the regulators will wish for them to alter how they're doing business going forward.  

What was decided to alter in the kitchen area, and since we're not making any serious changes to the property we don't need have to get the same permits we might have to for a property where we're altering the structure significantly (more structural change increases rehab costs).

Correct me if I am wrong, but you want to fix the place up and sell it for maximum profit and live happy ever after in Chicago.As a Property Manager, I use the Property Management Agreement which I charge 15% of total cost for each repair, maintenance, alteration or redecoration.As a Real Estate Broker, I use the Exclusive Right to Sell-Listing Agreement under Other Compensation where I charge 15% of total costs.As an Investor (In State or Out of State), I use my remodel contract which holds the GC completely responsible for all completed work based on scope of work, time and compensation. 

c) I'd like to keep a detailed accounting of budget and investment for this specific project so that I can know exactly where I am + learn for my next investment, there must me a spreadsheet tool designed to track and manage this which I can update as the closing and repairs happen...appreciate any suggestionsThank you to all BiggerPockets I have been left at the alter several times over the last months and feel like I am breaking through at last.Bernie

If you have to alter a few things then do it.

While I would never consider myself someone who needs to indulge in mind-altering activities, I do partake on weekends and social events.

Oftentimes my jobs are big enough for plans, but I always start a job with an EZ alteration permit to get non-structural things moving while the plans are getting drawn up.

In short, the re-fi alters the timing and amount of cash flows, and therefore alters the IRR.

A experienced lender would have ordered an "as-is" appraisal as in many cases utilities cannot be turned on prior to closing  and it is a federal crime to alter a hud home prior to closing