I'm a new BHL owner and I struggle, so far, a lot with smoothing out surfaces with the machine. What I've started doing, as I make a wreck of my yard, is back-filling ruts, as possible, then smoothing it out as much as I can with the loader side, then spinning around and doing a finer smooth with the bottom of the hoe bucket. I'm sure there are operators out there that could teach me a million things that I'm doing wrong and they could do it way better. That being said, prepare for a learning curve as far as grading and smoothing goes. My neighbor has a skid steer and though he's pretty experienced with it he can smooth a surface very quickly, in comparison. I don't know how much that has to do with seeing the bucket well or not. I think a 4 in 1 bucket would make my grading/smoothing life a little easier too, to be used like a box blade, but that wasn't in the cards for me.
The learning curve of using the machine effectively (but maybe not to the fullest of its possibilities) isn't too bad. It is possible to get over-confident a bit too quickly, so beware of that.
As someone else mentioned getting stuck may be a real issue, even with 4wd, not having any trees out there to tie to to drag yourself out of trouble may be bad too... Ground that seems hard doesn't seem nearly so after moving 15000 lbs around on it. I'd suggest, if you get a BHL, that you practice, somewhere relatively safe, moving the machine around with the hoe side. I've had my front wheels almost completely buried in mud, to the point where they were stuck in their own channels and wouldn't turn, making it (along with a creek nearby) really challenging to get out of, I'm pretty sure I was also bottomed out on the bottom of the machine. I was left lifting the whole machine with the hoe bucket and shifting sideways, hoping I didn't slide back into the muck. The whole thing felt like it was going to fall over and it took me about an hour to unstick. Once you get good at moving around with the hoe bucket it makes all the leaning and bouncing less terrifying.