I'm looking to pickup some multifamily real estate but the barrier to entry is crazy in my local market.

We likely need to look for local lender that is keeping loan in house.  

Nonetheless, If you’re short on time, hiring a local attorney who focuses on evictions is definitely a good idea, as the process can be quite tedious.

Our pet deposit is non-refundable which is what I generally would recommend (assuming your state and local laws allow that).

Would real estate prices in certain regions rise rapidly due to demand from both local and international buyers? 

Next piece of advice is shop this deal around with someone through the forums or local real estate groups (google for your area). 

Some areas of the west coast are allowing multiple units to be built out on a single parcel and in these higher COL areas, it's a boon for the homeowners, renters, builders and even for the local governments that are collecting the building fees.

Residential subdivisions, while potentially less complex, can be hit-or-miss depending on local housing trends and the cost of infrastructure development. 

I am debating using my local lawyer vs. finding a lawyer in the state where the property is located.

It’s like giving the home a sense of place..a nod to local design traditions while still making it feel fresh.