How strict are the licensing requirements, and are there any recent changes in city or county ordinances to keep in mind?

One was a long time ago when a seller changed his mind after a bit of time and contacted an attorney.

With this strategy, we knew exactly how each house was operating and we could intervene or change leadership of the house if necessary to assure operations were going as we expected. 

Let’s Change That in Just 5 Days!

As other people mentioned the areas do change pretty quickly. 

Revisit your strategy annually to adapt to changing goals and market conditions.Good luck!

On a per-owner basis the policies will change for occupants over the age of 18. 

If you go to the property appraiser's website, you can probably  look at the year over year change in the taxable value of the property.  

I can't believe the change.

There is a lawsuit from a company that invested in a deal with someone on BP (not this group) who ironically changed the name of their company after multiple failed deals) that is suing the GP and people personally for negligence because the sponsor did not do what they said they were going to do.