Or other regulatory requirements?

When I dreamed of affluence circa 1991, it included the obligatory hot car (that I can buy a few times over now), lots of cheap women throwing themselves at me (my body would end up weighed down so deep in the Mon they'd never find it, I married a dangerous woman), and a lot of expensive stuff (me, a student of minimalism today).It also occurred to me that if my wife and I had kids, there was no way we could have asked them in 2017 to move into a leaking shack on the edge of a heroin ghetto, where a dude got shot just walking home in the alley out back in 2018, where the school system was ranked about as low as you can get for southwestern Pennsylvania (which is really saying something).

And, for many, it's a cycling action much like body builders do of growth, consolidation, growth, consolidation, evolving up along the way. 

Or like I have seen there are a lot of bad actors out there and you will have groups that do this with no intention of every paying on the sellers mortgage and will rip the rents until the houses are lost to foreclosure  when that starts to get acute and brought to main stream something could happen regulatory wise.

The highest multipliers tend to be in the cities with the largest amount of regulatory scrutiny. 

Correct me if I am wrong but Joe Schmoe with no experience and no education can call himself a financial advisor.There is no governing body that administers the term 'financial planner' so I put litte weight into that title / profession, whether it is fee based / non-fee based. 

We must also monitor regulatory changes, tax policies, zoning regulations, and environmental standards that may affect property values, development opportunities, and operational costs.

Books like Fooled by Randomness make it apparent that you see a lot of sucessful people on social media, books, etc; not the graveyard full of dead bodies/failed investors. 

They also run the risks of high levels of regulatory pressure and litigation by virtue of their renting to legal wards who have access to free lawyers and zealous bureaucrats who see independent investors as a crop to be harvested.

Guides on how to deal with some of the nuanced regulatory/filing requirements specific to Detroit are provided.