This would mainly be in a higher priced area(I live in the East Bay of Bay Area).Find a partner willing to invest and to live in the house(one of the homes) purchased.Find a home or lot for sale that is big enough to be subdivided while maintaining a good size lot on each parcel. 

Between working to build up a good sized cash reserves,budgeting, and trying to get a line of credit I feel as if there is more I can be doing to better prepare myself.

As you probably know, a tenant cannot remove items that are attached or fastened to the building....like sinks and ceiling fans....that is unless they had them installed themselves...But as @Glenna Wood said, it's probably not worth bothering to go after a tenant like this....just lick your wounds and move forward.I bet you screen the heck out of the next one, eh?

Unfortunately, they'll be stacked on top of each other with lot sizes of only .15-.25/acre, but the good news is they'll be on the expensive side.

This will depend on size though. 

Therefore, I tend to look for rent amounts for a studio, single room, and 2 or 3 bedroom (depending on the size of the unit).Thanks!

Calculating an ARV seems to be an easier task, because I can evaluate the sale prices of similar properties in the area, with respect to size, quality and location.However, estimating rehab costs is difficult.

My biggest Value-Add was on the inside, I took down and opened the living space and kitchen, and added a partition wall to create a 4th bedroom and a good sized office.

Your easiest bet is to buy an unfurnished home/condo on a 20-25% down investment loan, then just furnish it and run it as an STR.

What is my best bet for a loan/lender here?