One theory is that the investors see population increasing in these areas and are willing to deal with the ridiculous local laws

For AZ Landlord-Tenant issues, I refer to Zona Law Group (480) 949-1400. 

@David Felt hopefully you had an attorney help you draft the lease, ask them what you can and cannot do within the bounds of the lease and your state laws.

Texting is becoming increasingly difficult with the new laws and regulations in place.

I understand the state laws regarding wholesaling in NY are tricky, but is it worth it to spend the money to have lawyers review or draw up my contracts?

If it is a term lease, the lease terms will control, to the extent they do not contradict state law.

Purchase price: $220,000 Cash invested: $5,000 Purchased a mostly turn-key property with a main house and an In-Law detached suite.

Both are terrible choices NYC, super expensive and high taxes, and TERRIBLE landlord laws.

My guess is 99%+ of agents have no familiarity with off-market deals or the real nuances of the laws, they do exactly what their brokerage tells them to do with appropriate checklists and pre-written forms/contracts.

The RE law in Ok and Texas clearly states that an LCC employee can find eals and help in the transaction.