I think we are still in "gradually", in 10 years things may look a little different. 

So, we are somewhat covered.My employer has an Employee Assistance Program that includes some legal help.

We are for-profit and currently have about 150 beds, most of which are in large single family homes located within city limits (no suburban living for us).

@Alecia Bolton We are looking at selling a partial and most of the educational sites differ on who the Collateral belongs to.   

Can't speak to the organization in Michigan but generally the benefits of a well run STRA far outweigh the costs.I am a property manager in Hawaii so we are constantly being hit with new anti-STR legislation and have a large, well-funded hotel lobby to deal with constantly.

Or do we walk (something we are seriously considering).

You are seeing it already, the nicely renovated units are having to compete on price with vintage units, because we are in a market where a lot of people are worried about their job prospects, not anticipating getting raises, on top of groceries costing 30% more than they used to.  

That protects us personally from liability because we are not personally making any decisions.  

Quote from @Sharad Bagri: We are a few friends looking to invest in multifamily apartments (<4 units) in Ohio.

Our partner lives in North Dakota, the STR is likely to be in Florida (I plan to shop after BPCon 2023) but we are planning for the LLC to be in CA due to their fee collection.