Like, if the interest rate is 10% is that an APR or is it compounded more frequently?  

In the past I've used regular premixed drywall compound over plaster and have had no issues. 

District court judges and defense attorneys know the contracts investors create are not between "ready, willing, and able" participants.

Well, I know a federal defense attorney who won a Supreme Court case and offered to introduce his son to him.

This event can then create an affirmative defense for a borrower against foreclosure or can seriously affect the value of the mortgage in the secondary market under the same guise.

I almost prefer that he would take action so that I can state my defense and move on.

If they have a party and someone gets hurt, the first line of defense is their policy.

You can balance that against assuming that the $110K you weren't spending could get 3% a year compounded over 30 years (just for the same of simplicity) so you have something to compare that against.  

I may shift our strategy (wanted first deal to be BRRR) and do a flip since that seems to be what the "defense is giving us" so to speak.

You file a lawsuit or demand and either the E&O carrier provides a defense / settles after being notified of the matter or it doesn't.