In my opinion the type of loan isn't as important as the deal being good and the numbers working in your favor.

Hi @Ken Nyczaj and welcome to BP, it has everything you need from free online educational videos to connecting to other investors, you can't go wrong on this site!

I would welcome suggestion/opinion on some of the questions below(1) Is it OK for me to knock on the door and politely ask owners to vacate? 

Not totally accurate, but getting better in my opinion.

My wife and I are in the early stages of exploring an opportunity we've come across...I'm curious for opinions. 

Here has everything you need from free online educational videos to connecting to other investors, you can't go wrong on this site!

- conclusion (my opinion only), a pretty generic deal with a young sponsor and middling to less than average financials (fees and waterfall)I think you could find better deals on Crowdstreet or Realcrowd.   

In my opinion, the question is what value will you add to the land that will make it more valuable and/or useful?

To offer my own opinion, I'm set on saying a house hack it too risky and leaves you living in a lower quality home compared to the size of your loan.

The more eyes the better, in my opinion.