I didn't see any of the major news outlets report on the settlement accurately.

For instance, one property seems to have an extra bathroom that is not listed in the county records.I plan to make some modifications, including removing a closet wall to expand a bathroom and taking out a kitchen island that contains electrical outlets and a switch.

Yes you will need a permit. 1) you will need to add outlets on each wall as per code...and of course switches for any lights or fans.

Scratch & dent furniture & appliance outlets are your friends!

It needs new carpet, everything needs to be painted, the bathtub needs to be reglazed, and some of the outlets are still 2-prong.

With fresh paint throughout inside and out, brand-new roof, dual HVAC systems, updated water heater, stainless steel appliances, lighting fixtures, outlets, countertops, and PEX plumbing just to name a few.

Pretty much all of my Commercial lender outlets will cap the CLTV (the % of combined financing between 1st and 2nd mortgages) as the same LTV limit. 

Orchids in our orchid gardens are flowering.  

Make sure you have smoke and CO detectors in appropriate places, GFCI outlets near water, functioning mechanicals, make sure everything is in good condition and you shouldn't have a problem.

Another issue is there isn't an outlet under the sink to plug the disposal into.