I did exactly what you're proposing, I turned a Carvin Bolt kit into a custom Alligator. I just want to say that my project was a budgeted one because I already had the guitar in its stock form. However, the bottom line was just over $1k, so not a "poor man's Alligator" by any means, but still affordable. YMMV. It seems like others are trying to steer you away from the Bolt, probably with no actual experience with one. The kits are very high quality, not a low priced knock-off of their own product, which is what MIM strats are. I can say this with absolute certainty: Carvin's QC blows Fender out of the water, especially when comparing lower priced models. Just compare apples to apples and you'll see that for about what a good, new MIM strat costs(or maybe a little more) you can buy the Carvin kit and order what suits you, and it's MIA. Their electronics leave a little to be desired, but you'd be wiring a MIM anyway, so let's call it a wash on the pups and wiring. I chose to use the Schaller bridge that a few members have praised, but I believe the factory holes jive with Fender licensed hardware and replacement necks.
My point is, you couldn't pick a better starting point since you won't have to disassemble first, prep for refinishing, or anything except build it.
Anyway, here's mine. All credit for the oil finish goes to Brian@9mileskid(milobender on this forum), since he held my hand and walked me through the process via email. Also the beautiful laminated brass plate was made by Brian, the laminating was his idea, and boy was it a good one. It makes the guitar, IMHO. That's a layer of brass, then black walnut, then more brass. I know he's mentioned it elsewhere on this forum, maybe I'm not the only one here with one. DAllen VooDoo 69s, a DIY blaster, a Tiger preamp clone, and an ebony fret board make for a kind of Jerry tone "chameleon". It sounds great, btw. Sorry for the poor image quality, I've been meaning to get some good photos taken and post them for a long time, will do asap.