It was our first deal and we wanted to take action How did you find this deal and how did you negotiate it?

Lots of posts will tell you to "just jump in", "take action", etc.

No recourse for us, only option is to reschedule and sit there and pay another 3 weeks of holding costs.Going back to the original question, you own the project, the payment schedule, and ultimately the actions of everyone involved in the project.

I would take action and start developing your core four (agent, lender, pm, contractor).

In the end, yes, everything depends on how much you want it because for anything to happen, you have to take action. 

Is there any action I can take here, or do I simply chalk it up to a learning lesson and don't let it happen again?

Get clear on what you're trying to accomplish, set goals that fit that vision and take daily action to get there!

Surprisingly, they also weren't concerned to learn that the property had been foreclosed and that title had transferred (I guess this was news to them!) 

Vacation rental products: Some banks are buying into the short term vacation rental action so long as the prospective property is miles away from your home of residence.

Any other course of actions that people would recommend?