At the worst provide a bad decision that pushed me in the right direction and I can meet the right people who can help me begin Real Estate investment the right way, and pay off the jump off the cliff.

Getting in front of the potential lead is key, but I would be careful about doing it in a way that could lead to some bad word of mouth that could harm your reputation early on.

After 21 day review, the permit is ready for pick-up and initial inspection, but things have gone bad with this contractor on another project (he's now breached both contracts timelines by a longshot).

At the end of 3rd month, I have to catch up and  have to mkae payment for all 3 months.My questions:- Being a real estate investor, will this affects (good or bad) my credit score in short and/or long term?

With 2M in equity you never have to work againTake your 2M put it into a quality income fund and kick back with a solid 6 figure annual income and never touch your principal. 

Bad part is I lose my $33k line of credit which could be used in the future and I wouldn't have immediate funds for rehab.  

Now for the bad part, we could probably come up with about half of that amount total as down payment.

I guess I like controlling the material cost myself, that way I can pick the quality that goes in depending on whether it's a flip or a rental.I'm also more hands on the projects also, I'm there on a daily basis and usually do some work myself alongside them. 

Typically quality concrete won't fail due to the use by one or two tenants who stay for a few years each. 

I thought it would be best to reach out to the BP community to hear the good (and bad) from other local investors of who they have worked with.