Reforming these definitions can open avenues for co-living arrangements, providing more flexibility for investors and addressing housing affordability issues.Key Takeaways for InvestorsStay Informed: Understand local zoning laws and how they define household occupancy.

We would need to know your current operating expenses (and rent) to be able to provide any suggestions.

Under federal law (ADA and FHA), true service animals and emotional support animals are exempt from pet fees, deposits, or rent, but the tenant must provide proper documentation if requested.

That is often a matter of opinion and will depend on the attitude of your municipality.Most municipalities do not require neighborhood approval, but will offer the public opportunities to provide input which will be considered.

I’m currently active on BiggerPockets to connect with like-minded investors, exchange ideas, explore potential opportunities, and provide opportunities through my network to collaborate with others.

However, there isn't a standard form like a NAR lease agreement; it just needs to provide some general information.

Did they provide another update? 

However, I have heard and read of many horror stories of landlords working with incompetent property managers who provide no real value.In attempt to avoid this issue, I am doing my due diligence and asking investors for referrals of trustworthy property manager.

Neighborhoods near major employers like the AFB often provide reliable rental demand, which is a great foundation for a long-term hold strategy. 

Here's an ideal PM contract: The two keys are: The PM is incentivized to make you money, not charge high fees, and is contractually bound to provide reporting that you can understand in a timely manner.