So I question if your money goes further local or OOS.  

I would do the usual things like attend a local REIA to network. 

You should check out CFRI, the local chapter of the National REIA.

With local home and land prices so expensive, I'd like to explore building a Tri or FourPlex on the back half of the lot. 

I'll usually go there first to get a baseline and then further refine that with local listings, etc.. 

Not a whole lot built in savings, but I do know a few potential partners that would want to go in with me and I'm good friends with a local GC.

We went around and spoke with about 5 local builders and visited their sites, did walk throughs, etc...

Annual increases in keeping with HUD's fair market rents build in a stable increase in revenue.Regular inspections from the local agency provides us with an excuse to get into the units to check for maintenance issues that often go unreported and cause more damage.We love the model.

You might want to just start with hiring a good local PM and have them take over management from here.

Outside of that, you can easily be duped by Google or local property managers.