There are risks associated with blankets, specifically exposure of all assets in the blanket, and necessity to release property in event you want to sell which could lead to unfavorable reappraisals...Having said this, your question is a risk/reward and strategy question.  

according to the Mortgage Bankers Association. 

Additionally, I am the Broker and President of a full service property management company (commercial/residential/associations) and full service real estate brokerage(buy/sell/lease/investments).

Again, talk with your accountant (maybe a lawyer too) but...One of the biggest challenges I think a lot of 'full time conversion' REIers face is 'how to pay myself in a way that isn't self-employment' ... it becomes a huge deal when you're doing silly little things like, say, getting a cell phone, or a car loan, or a mortgage, or lines of credit... or a credit card...This is where it pays to spend the time and money to set up your LLC/C-Corp/S-Corp correctly so that you can pay yourself on a W2 or through an S-Corp and not have the problems/taxes associated with a 1099.

I don't personally have an issue with the dog coming or even living there at this point BUT the terms of the lease need to be changed to reflect the 4-legged addition and costs associated need to be addressed.

For example, investors can check the Bureau of Labor Statistics website to see whether the local unemployment rate is decreasing, which could suggest a smaller chance of renters falling behind on their payments.In addition, the National Association of Realtors' website provides quarterly updates on median home-sale prices in many metro areas.

I don't knock building codes because the intent is safety but it does create a regulatory nightmare for startups to bring technology to the masses because of the testing fees associated with it.

In fact, consumer surveys by the Home Improvement Research Institute show that 60% of homeowners reported starting a DIY home project, and that number grew to more than 80% just two months later.

What are the costs associated with doing so?

It also says that if an approval is not made within the time frame, the the lease should be deemed acceptable to the association.