Why not spend the money on a track bike, instead?
This. If you have the money to do bodywork, suspension, and some covers... look for a cheap, track-only bike to run.
You should never take a bike to the track that you aren't willing to set on fire and roast smores over. If it's gonna hurt seeing it totaled, you don't wanna take it.
But if you insist, SharkSkinz makes a set with light-cutouts so you can swap back and forth. I bought that set and ordered some zeuss-fasteners to use. Took about 8 minutes to swap out. Other than that, just have your suspension dialed in to your weight. Start with rebound and damping at a neutral setting. Go all the way in one direction, then count all the way to the other side and remember that number. Cut that number in half and that's how many clicks you should go back in the original direction.
That will be a good starting point. When you get faster and start feeling the bike over or understeer, get with a suspension guy at the track and he'll set you up right.
That's all you will need for a while. That bike should give you plenty to grow into. You'll probably see that the first thing you really *need* to do will be brake lines. The lines on these things are notorious for fading. Braided lines will be all you need for a while after that. Eventually, you will want to go with a new master and pads. Even further down the line... calipers (expensive as fuck).
But really, just set the suspension. That's the most important right off the bat. Everything else is designed past your ability.