Either way, you've left a big hole in the cabinet that looks dumb.

Windows were knocked out, the roof was trashed and we had holes in the pool enclosure screen.  

You can get creative on how to do that but don't put yourself in a hole with a -$1,200 in cashflow/month on top of using the HELOC as a down payment

But it will leave you with a lot of holes from fishing wires, so you'll have to patch and paint the entire house.Every good flipper knows you loose money inside the walls, but I don't think you have much of an option when it comes to replacing K&T.

They blew a hole in FDIC insurance now as they backstopped all deposits, not insured deposits, to quell a bank run.   

Take that money and apply to knock out your debt.If after cutting everything out you are still in the hole each month to cover monthly obligations then look at getting a cheaper car, house etc.

When they move out, see if they patch the holes where the big screen TV was. 

The erroneous holes inside the cabinets were made because he eye balled where the studs were supposed to be.

Please feel free to poke holes in all of this..

I am guessing not, so unless you see a need or hole in your amenities, I wouldn't do it.