I was recently denied by a bank because they thought I lacked experience for the complexity of the project I was undertaking.

@Nathan Click - unfortunately, I'm only 3 years into paydown on my mortgage and even though I have definitely increased the value through renovation and the neighborhood is appreciating overall, I doubt I'm much past 80% LTV (if at all) - I bought in with an FHA loan right before the "PMI forever" change happened, but I only put 4% down since I knew I would be undertaking the renovations.  

Anyway, this is my first real estate purchase ever, so I'm pretty nervous undertaking all this work and feel my expenses will be so high I'll drain the profits.

The investor probably did not realize this as the price he offered for the house (and in turn was asking someone else to undertake) was for a house that required renovation.The reality is the house has to be condemned and slab demolished so this investor is upside down to the tune of $120,000.  

Right now we're in the beginning phases of setting up workforce development programs and acquiring space for redevelopments that have a community facing aspect while remain profitable enough for investors to undertake.  

Things might have changed, but I have two sets of renters making good money, 100k, and they're renting and have been for years.Sounds like there is no way to give a redecoration allowance in ready spendable currency...what about a prepaid account, like a gift card to a granite place or Home Depot.

Last year I bought a property and asked for a $10,000 redecorating credit back at close. 

That was a major undertaking.

That sounds like a great undertaking and something to be proud of once finished, I just have one question and maybe I am being foolish here, what is the liability of having a fireplace?

One definition of an entrepreneur is someone who undertakes an endeavor without first knowing exactly how they will accomplish it.