Riding home on the bus last night I was thinking about how you'd develop operating procedures for these things.
There are no aerodynamic surfaces to provide unpowered lift (obviously).
There's clearly a dead man zone where you're too low to use a ballistic parachute, but high enough to die if you have a major loss of thrust.
Similar to a hovering helicopter, but you don't have the impact absorption effect of skids and the protection of the seats/cabin.
Lift off from land, depart over water until above MSA? Same in reverse for approach?
But then hitting water from anything above 10 metres, especially with something like that on your back, is not going to be nice.
Zoom climb on take off over land to reach MSA as soon as possible?
Maybe just accept that if you lose thrust, unless you're high - you're dead.