I am left with 2 ABS Loans, Tenant occupied property that is now in foreclosure, because since November of last year I was trying to refinance, but the loan officer I was working with made me believe that he can refinance at least one of them, resulted in a failure to get approved. 

Many OOS investors set themselves up for failure because they don't invest the time to ACTUALLY understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.Class A is relatively easy to manage, can even be DIY remote managed from another state.

I also know that in many cases the llc will protect my personal assets and I fully believe this is either analysis paralysis or just fear of failure. 

PHA failure to pay the owner is not a violation of the lease.

One thing they had a penalty of "$100 per diem" if the contract falls out because of failure to finance.

Failure to have funds for maintenance results in maintenance not being done and that leads to problems like structural issues.

@Sharma Parth  With your total cost ceiling of $120K, paired with the objective of completing a BRRRR you are setting yourself up for failure.

I am worried I won't be able to get ahold of him, should their be a failure in his workmanship.

Nothing inherently wrong with either, but something to be clear on before investing money, since the controllable successes or failures of a property are going to come down to who is actually putting the deal together and who is running it.I would also be certain how the capital is flowing from deal, through primary sponsor, and down to you, the Spark Rental investor.  

One of our tenants had a higher water bill due to the leak that has happened because of water heater failure.