Loans like this can be useful or very dangerous, depending on how you manage your business.The ideal situation for a loan like this is when you have a property that will take a while to get up and running. 

@Chantelle LewisRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

It is not uncommon for auctions like this one to get rescheduled multiple times before ever actually making it to the courthouse steps. 

Any tips or advice for getting started?

I think about this often, its really just running the numbers - if you borrow 100k at an 8% interest rate, will the investment get you more than an 8% return?

Initially, I though I could only get 3 lots out of the land, but after some research and some luck I was able to subdivide the lots into 4 separate lots.

I dont know the delivery time on a ADU but I'd assume same with site plans and zoning. but how do you get your money out of that?

But for the people who are motivated and want to get deals done and build the community and level up together, it can be a godsend. 

The higher the deductible the lower your overall premiumbut get quotes on all the deductibles you are interested in.

Stop sending "constant reminders" to get paperwork.