Ability to edit post after posting

Apparently, I’m a horrible proofreader. Can you allow editing? Perhaps allow edits up until someone comments on the post. And make me type in a reason for the edit and then you can add that reason in italics or something to the post. I would give an edit reason like this: grammar and spelling. Also, perhaps add a timestamp about the edit: edited 5 minutes after the original post. Reason: grammar and spelling.