Ours is in a guest house at our primary, so we'll be in compliance with everything I've seen proposed thus far.

Ken Rischel runs a compliance shop for lenders in chattel liens, he'd probably be the only "expert" on BP, I'm more than aware of it, but I don't claim expertise of that entire Act.

Compliance is difficult under D-F and the potential penalties are severe.

A security deposit isn't only for deducting damages upon move-out, it's also your leverage to (hopefully) keep the tenant in compliance with the terms of the lease or face forfeiture of those funds.

The industry argued that without some level of compliance certainty, mortgage credit would dry up since lenders and loan purchasers or securitizers would refuse to subject themselves to such draconian liability for making or acquiring mortgage loans.

Obviously no clue as to compliance requirements. 

There doesn't appear to be an audit down the road after closing to make certain you are in compliance.  

The tenant has access to me by snail mail, email and text.In order for the tenant to be in compliance with the lease, should I have received written notification by Feb 29 or is it acceptable for the notification to be dated by Feb 29 but delivered by snail mail at a later date?

You can be going to federal court for non-compliance!

Registration is $225 per unit, and houses are inspected every 1, 3 or 5 years according to conditions, compliance, complaints...etcI bet that $5 doesn't sound that bad now