Unlike the contractors, the handyman may or may not carry insurance and therefore, in case of any injury at the work site, can the handyman sue the owner?

That causes a financial hardship and the person who signed that contract won't really have any Mickey Mouse exit clause when it is found they didn't have the intent nor ability to carry through.

Doing the work yourself will take longer, you won't be able to buy supplies at contractor discounts, and the longer you take to get the work done the longer you have carrying costs without rent money to cover it.

If it can carry over to other projects, how long does this debt typically stay in effect (i.e. if I start "Project C" a month after I go into Hard-Money lender default on "Project A" will the Hard-Money lender have the right to go after funds/property associated with "Project C"?

What kind of debt are they carrying?  

I thought I would be carry away on an ambulance because this dog is literally as big as me if stand on two feet.

While you do not lose the losses if you exceed the income limits, which is fairly easy to do since the limit really isnt that high, they just continue to carry forward till when you can use them, or when you sell to offset your gains. 

The usual thrills and chills, but there was this one memory I still laugh about that happened during the inspection...A lady with too many cats to even know how many she had was foreclosed on (forfeited) by a private seller carry.

How about private money, hard moneybloan, equity partner, seller carried note, etc?

You lose 6% on average to real estate agents 30,000 + inflation rate 2-3% a year + escrow title and carrying costs then take the economy into factor  does your market take a down turn or go up .