In addition, doing fewer deals than that will most likely mean that they don't have a legit team of pros to back you- PM, GC, Plumber, lender, etc- if they aren't feeding them constant business, those contractors won't drop their current jobs to help you in an emergency. 

If traditional banks aren't providing favorable terms, consider alternative lenders like HML or PML.  

The debate is like a machine that riles us all up and sets us at each other.Just in case people reading this aren't familiar with my situation, I'm a DIY low-income landlord in C/D-class neighborhoods within a couple of small target areas.

I’m sure they aren’t advisable on larger projects but depending on the project size and complexity, they worked great for me. ~$650 for the study. 

If you want another layer of protection get an umbrella policy.You don't want to trigger the due on sale clause for a likely low interest mortgage.Also if you aren't operating your LLC 100% you likely only have a false sense of security. 

We do them, but they aren't cheap and your LTV will be lower that a HELOC on a primary residence.

If things aren’t going well, they will clearly and transparently communicate with the investors.  

If you are the sole heir of a rehab property, usually the smartest move if you aren't experienced is to sell it for max value, as-is, and the repurpose that money into better, rent-ready homes somewhere else, possibly closer to you. 

They have something at state if things aren't done properly.

There aren’t many people making that much.