Those numbers today make sense and back when I passed on them at $15k it also made sense, it's the market that's made the difference, from total collapse flooded with properties to a significant shortage market with capital desperate to find a place to be deployed. 

If the deal collapses and I would lose everything, I'm out.

Lets say you buy used lumber in WY using your LLCs money and ship it to the foreign state and they build a building that collapses because the used wood you bought was rotten they can still go after you. 

If the market collapses  some loans can come due. 

That's a hotly debated topic depending on who you are talking to - For example the National Association of Realtors might have you believe there's never been a better time in the history of the world to buy real estate than right now, while Harry Dent and Peter Schiff would insist that a total collapse of the USA is imminent and you should grab your guns your ammo and your gold and run for the hills immediately.There's a part of me that thinks that the crash from the recession was an unusual event not to be repeated again in our lifetimes, but on the other hand the real estate market is cyclical and local markets are subject to periodic corrections (and crashes) just like any other market.  

If you were only acting as your own GC, then your strategy of having a policy for the rehab and GC business is ok, but still not great.However, if you GC on a partner deal or someone else's deal then you're pretty exposed.For example, what if you GC a project and the deck collapses two years later because of negligence.

Due to the collapse of the economy construction was stopped before any other work was completed.

I have all that in writing so now ..lets say my tenant has a party, the balcony collapses..who is to blame ..well of course the landlord … ..what’s gonna happen next…insurance kicks in. they hire an attorney and ….if the plaintiffs attorney looks at my net worth and sees liens all over my properties : I am less of a prey to them …so a settlement is an option they most probably be advising their clients.

Things were different.In the more recent real-estate boom (which lead to the housing collapse and subsequently the global financial crisis of the late 2000s), it didn’t matter that homes were overvalued: We were protected by those complicated derivatives that nobody really understood.

I'm heartened by the idea that there doesn't seem to be a lot of risk of sudden price collapse.