Hello PJWPE,
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I understand that you are getting the error "Reboot and Select proper Boot device or Insert Boot Media in selected Boot device and press a key" when you are tring to recover your operating system. As you already reset your BIOS to factory and that did not resolve the issue I would think at this point it is most likely your media that is the problem. The recovery disc may not be working in which case you would be receiving the same error. I am providing you with an HP Support document: Looking for HP Recovery Discs or an HP USB Recovery Drive?, which if you follow it through to its conclusion will help you get recovery discs if possible that will work correctly on your computer.
***NOTE: If you wish to test this before ordering anything find other bootable media and see if you can boot from it.
I hope I have answered your question to your satisfaction. Thank you for posting on the HP Forums. Have a great day!