(larger would require fire sprinklers). 

Did they require you blueprints and plans be reviewed and made to conform to their standards?

.: I haven't passed this past legal review so for what its worth: Part of my standard requirements for everyone include income is at least 3X rent, minimum credit score, say 640, Clean record and no evictions as well as deposit is paid in full at signing of lease and 1st month rent is paid in full prior to handing over the keys.

Do not expect to keep them and be prepared to have to evict.If the jurisdiction this property is in requires anything in place in order to evict such as rental licenses, etc., get them in place before discussing an increase with the tenant because it's much easier to get inspections and repairs done when the tenant cooperates.

So in all, no real tough spots other than normal aside from not knowing you were required to hire an electrician, but that's unusual anyway.   

However, they require consistent maintenance to avoid becoming a liability.

Because it's required by law

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

First off, the cash-out refinance requirements have gotten tighter w/ the "seasoning" period.

All but one of the family members are on board, and we collectively own the majority, but it's 55% and the bank requires 60%.