We have identified two but this is our top choice but our budget is closer to $120k is that something even worth submitting in writing in your opinion?  

Many made a bad choice, lived the consequences, and said 'I'm not going back' and went on living life.

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Alternative: Rollover Funds to A Solo 401k & Take a 401k loan or Invest in Real Estate DirectlyIf you are self-employed (i.e. active self-employment earned income separate from your w-2 income) with no full-time w-2 employees, you can set up a Solo 401k and then rollover your 401k funds once you leave your current job [NOTE: You generally can't rollover funds that you saved to your current employer plan until you quit.].You could then take a loan of up to 50% of the balance not to exceed $50,000.

If you're using a federal exemption a lot depends on your deal type, but some of the names listed above would be good choices. 

Any one of them can run my real estate business, it's only a matter of choosing or choices. 

If I were given the choice between residential and commercial, I would go commercial.

Your choice of insurance really comes down to your own risk-tolerance.

Perhaps a non-traditional lender like Sprout Mortgage would be a better choice?

It is a personal choice of risks.

Hiring an attorney can be both the safe choice and the profitable one - whether it's closing costs or taxes, we almost always end up saving our clients more money than it cost them to hire us in the first place.