They know how to handle negotiations and can tell you about the local housing market.

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.Check out the BP Podcasts: https://www.biggerpockets.com/podcast5.If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking6.

Historical data, new developmental attractions, business relocation, local policy, etc.

Your local REIA is always the best place to start, in my opinion.

Know good agents,  property managers. contractor that can walk the property.Etc.I’ll be investing locally in the Phoenix Arizona area. 

Do you do it yourself or you have a local manager?

In your particular case, I would consult with a local eviction attorney to get their take on the local laws and regulations.Nonetheless if a tenant tried to pull this on me, I probably wouldn't want them as a long term tenant in the future.

James - I am local to Ventura County and have helped multiple folks with VA Loan assumptions.I search the MLS for listings with FHA or VA loans.

Make sure the title company is familiar with all the local and state laws and regulations. 

When it comes to wisely investing our hard-earned money, it's important to consider the data, seek advice from locals, or even visit the location in person.The cost of living in Jackson, TN is 4% lower than the state average and 14% lower than the national average.