With the highs/lows and risks/rewards that comes with that. 

Property managers are not hard to find, I would put an ad out as well as contact local property management companies and compare rates.

That's a quarterly payment of $2,400 approx. for the quarters I owe the loan, with remaining principal repaid on sale of property.I'm sure there are downsides, I just can't think of them when compared to hard money.

Also, does anyone know how to look up accurate pricing histories for comparable Vacation Rentals in the area? 

Dollar profit might be bigger but the %age profit is smaller and for a larger outlay (higher risk) most people would want a higher reward.

What I can say is that flat lots are in demand by the builders so those neighborhoods are likely to have the shortest construction cycle, comparatively speaking.

I just wrote this article a couple weeks ago...maybe it gives you some things to consider along the way-https://www.biggerpockets.com/renewsblog/considera...More specifically on the numbers, calculate what you'd be profiting (don't forget to subtract mortgage interest and property taxes and all that) and compare that to what you would pay in rent. 

It provides the ability to use data from broker offering memorandums by comparing actual to pro forma income and expenses.

For now, while I rebuild not only my finances but also my life, it's the perfect place for me, and anything comparable would cost far more to rent and I have no intention of renting when I work from home and love my location already. 

Also, this wasn’t part of your question, but how do current rents compare to market rates?