The great thing about a bus build is that it's yours to make personal choices. No two builds are the same. From my perspective, I ignore most of the sage insulation advice given by well-meaning folk in warmer climates. I'm in Canada where we have just two seasons: Winter and Construction. What you can get away with down south of the Mason Dixon line isn't going to work up here in mid-January. The more you are exposed to extreme climates, the more you'll pay for any sins or ommissions in your insulation. If you're in the temperate US, you can probably get away with murder and think you've done a great job.
Here is where many bus/van insulation jobs going wrong.
There are four elements to a successful build from an insulation perspective.
1. Make the outer skin as airtight as possible. This includes doors and windows. Of course, if you're airtight, you're probably also watertight and you won't have to worry later about leaks or rusting in your interior. This is the point where you need to seriously evaluate whether your old bus windows are really up to the job. Multi-pane argon-filled windows are really expensive, but worth it in the long run, if you are going to brave serious winter weather.
2. Insulate the crap out of your outer skin. Every dollar spent wisely here adds comfort and reduces energy costs down the road. You'll spend more time curled up beside the woodstove and less time making trips to the woodpile.
3. Completely seal your insulating layers from your living space with vapour barrier. Condensation only occurs on cold surfaces, so keep the moist interior air away from the insulation and the cold surfaces behind it. With the exception of sprayed closed cell foam, most insulating materials make poor vapour barriers. Closed-cell foam sheets are good, but you have to pay special attention to sealing ALL of the joints.
4. Use an air/heat exchanger to let your bus breathe. Fresh air from the outside needs to circulate inside the bus and you will want to exhaust excess moisture, carbon dioxide, carbon monoxide, cooking smells, bathroom smells, chemicals and so on. Outgassing of chemicals occurs from common building materials such as plywood, foam sheet insulation, flooring, glues, paints, varnishes, man-made fabrics, etc. Plan the airflow so your fresh air is going into living spaces such as your bedroom and your exhausts are pulling from the smelly parts. You also need to ensure there are no dead air areas such as behind furniture where cold moist air can collect and cause mildew. Dead air spots are effectively unheated. The more efficiently you move warm air around the interior of your bus, the fewer issues you'll have with mildew and the more comfortable your whole bus will feel.
So far as the actual insulation process, I often see bus or van builds on YouTube where the owner is making really big mistakes and sometimes wasting money on quite ineffective methods.
Sound insulation - most sound insulation products are poor thermal insulators. Rattletrap style products which are designed to reduce noise in an uninsulated panel van become redundant if you're going to cover them, especially with spray foam. These products are designed to reduce resonant noise, where the panel essentially acts like a speaker cone or the head of a drum. Spray insulation is going to adhere directly to the metal skin of your bus and completely deaden any resonance. Rattle type products have zero thermal value and you're just throwing away money in this instance. Also, if you're using something like Rockwool to insulate your bus, make sure you're buying the type that's for thermal insulation, not for sound.
Reflective barriers - Reflective barrier products such as Reflectix have ZERO insulation value in a wall and are ineffective unless they have at least a one-inch air gap on the shiny (reflective) side of the barrier. If you put Reflectix directly against foam insulation or the skin of your bus, you have at best installed an expensive vapour barrier. These products are designed to reflect radiant heat (ie heat travelling through the air). A survival tent made with this material would be great in the desert with the shiny side out or in the arctic with the shiny side facing in. So if your reflective barrier is working at all in hot weather, it's pointed the wrong direction in cold weather. Other than perhaps as window shades, reflective barrier products have no place in your bus insulation plan.
Thermal bridging - Metal struts and of course the metal skin of your bus are the enemy when it comes to conductive heat loss. There is no point in trying to insulate behind a metal strut or structural component that is essentially fused to the outside skin with rivets. From a thermal point of view, they will act as a single piece of metal. Focus your energy on insulating on the interior side of structural elements. If you simply screw your interior ceiling material to the metal struts, even if you insulated the ceiling, those struts are going to transfer heat and create cold bands across your ceiling (or hot zones if you're in Moab trying to stay cool). If the metal struts on your bus are vertical, consider adding horizontal wooden struts on which to mount your finished ceiling material. The intersection between the opposing metal and wooden surfaces is minimized and so too then is the thermal bridging.
So small decisions can have a big impact on the effectiveness of your insulation. In a bus, spray foam insulation isn't any higher risk to your family than sheet foam and probably less risk than carbon monoxide from additional heaters needed due to ineffective insulation. I wouldn't put any stock in the horror stories from the media. You need good ventilation in any case, which is something that many older homes lack.
Safe travel in your journeys and good luck to all with their build adventures.