You should have an accountant and lawyer familiar with the regulations advising you. 

Don't worry, yes, I had them sign a lease, a mold addendum, rules & regulations, and an addendum for drug-free housing.Complication #2- They moved out with prior notice (which is required, 30 days in advance of the 1st of the month), leaving behind TONS of possessions, and moved into a shelter.Complication #3- I was never given notice.

But how will the regulation of the regulators actually shake out?

To avoid a nasty surprise, if you plan on reconfiguring lots, check with the local zoning regulations first.  

I go strictly by the Credit Report.  

I am strictly buy and hold forever (unless the market heats up enough to make buying and holding less desirable than cashing out) After two years, my opinion is that SFH are a pain in the ***.

In Texas, legislation has made one extermely liable if very strict rules are not followed.

Are many of the rules and regulations similar?

1031 Exchange Holding Requirements for Like-Kind Replacement PropertyWhile the Department of the Treasury Regulations and numerous rulings make it very clear that you must have the intent to hold your property for rental, investment or use in a trade or business, they fail to define exactly how long you need to hold your relinquished or replacement property in order to qualify for a tax-deferred exchange pursuant to Section 1031 of the Internal Revenue Code or Section 1.1031 of the Treasury Regulations.Property Purchased Just Prior to 1031 Exchange If you purchased your relinquished property just before the 1031 exchange transaction, the Internal Revenue Service has routinely taken the position that you actually purchased the property for sale (inventory) rather than holding it for investment.

The first was a single mother of 3 and 4 YO boys who asked if the tenant upstairs has to pass the strict screening process that I told her she will have to pass.