Other than that, the city is largely residential with many jobs focused around providing for those residential needs such as the service industry sector, home repair, construction, etc.

Just speaking from a cash flow management/account structure perspective.As for someone being in the real estate accounting industry for over 2 decades, I can say that State Law compliance is big on this.

Continue reading as much as possible and couple that with your ability to network and meet people in the industry. 

.)- Average days on market- Absorption rate- Historical data on rents and sale prices in the area- Population growth- Main economic drivers (industries, individual companies, etc.)- Crime stats... if you know specific zip codes/submarkets that you'd like to target, the best data will come from local precincts. - and more..I'd recommend remaining active not only here on BiggerPockets, but in other valuable RE investment networks that you can find - i.e. local meetups (meetup.com, eventbrite, BP local events). 

It is a well established belief in the financial industry that there is an inherent conflict of interest when financial advisors are compensated on sales commission.  

Industry professionals are biased towards what makes them the most money, understandably, because why else are they in this business but to make money? 

If the laws are still concerning to you, then buy a commercial property, like an office or industrial property, in your area. 

Networking is huge, so connect with others in the industry, and look for mentorship programs (there are some great ones out there).

One of my tenant works for an Industrial company in the area.

Kodak was a industry "beast", a definitive "safe" investment, until it wasn't, and it went to trash in a flash.