BOA would be my last choice for HML.

Sometimes, you have little choice because a vacant property is simply uninsurable or the insurance cost is astronomically high. 

He said it worked, that folks really appreciated being given the choice to talk to him later, when it was a better time... that he was being respectful.

Using the cash as down payments for future investments is a great choice! 

Best of luck you are at a choice location at the right time.

Sounds to me like you are making the right choice by just setting up your own. 

Sounds like you might not have made the best choice on your first lender but you'll get better over time. 

According to the article Ben referenced, any bubble forming is nothing like the previous one that led to our Great Recession.As long as the rating companies are giving honest grades and bond buyers are showing discretion in underlying paper, there will be no massive bubble to snowball into a massive crash.Individual investors beware according to the investing market of your choice.  

You needed a renovators builders risk policy and hopefully the property was sufficiently heated during the time. 

The reverse is not true.If someone were to sue the IRA and insurance coverage and/or the assets of the IRA were not sufficient to satisfy a judgment, then you can be held personally liable.