Actually, there's a lot of specific information if you read it, and looked for what you are missing. I don't have a modern VS to test this against, and I don't see a call to SetDialogBoxMode anywhere in the code either. But despite that, I'll continue to help try to direct you:
1. try presentParams.presentFlag = PresentFlag.LockableBackBuffer
(that's Microsoft.DirectX.Direct3D.PresentFlag.L
ockableBackBuffer fully qualified...)
Without that, I'm sure it'd always fail...
2. I'm not sure if you need to set DeviceWindow|DeviceWindowHandle, or if the Device creation infers that. You can check the PresentParams after the initialization of the device -- I believe -- as it should have 'filled in' fields. If Managed DX isn't auto-supplying a window based on the instantiation within a form/control, you'll have to supply one. That'd be another failure point.
3. AND again, I'll ask "What error is coming back? That's the first thing to look at." When you do try SDBM, and have it in a try/catch, what does the exception handler print out? It should refer to one of the possible error causes.