It appeals to desperation on both sides of the transaction, which also makes it a great online class to sell... 

I came across one of these loan agreements online somewhere a few months ago, can't recall where I found it but it was clear in reading the loan agreement there was no language referencing the loan actually encumbering real property, it was just an unsecured loan.  

As a fellow West Aussie who's now living in the US, I can tell you this forum and most of the training/courses you'll see online regarding multifamily investment isn't relevant/applicable in Australia.

If I am self managing my portfolio, what do I need to check/confirm, and what easily available tools are at my disposal (online, other) to help me do this? 

In online forums, the danger I've experienced is the "national" effect. 

If you buy in a city with limited appreciation, every investment dollar must come from your savings.

Thanks For the Advice @lydia &  @Ray Hage, thatsh helpful. ive Just started the online training and about 3hrs into the 75 hrs so Wish me luck!

And that is probably what has saved me over the last year or two. 

Then you'll need to find land, acquire it, find a spec home buyer and set up meetings to design plans or buy a set online with mods.

@TJ Woolum - save your money (many will be glad to take it), rather invest your time and energy  to connect with the right people!