They are cracking down on these and fines have been increased substantially.See here for some of the most up to date info:  The Ultimate Guide to TCPA Compliance and A2P 10DLC Regulations

Either get the unit in compliance with the law or don't rent it. 

I was able to assure the sellers that we could close quickly and avoid lengthy inspections + appraisals.

Like anything it isn't for everyone, but for someone coming from no real estate background to 8 years later with a solid rental portfolio and experience in all exit strategies; I assure you its no scam.

They have slightly different rules...but those rules follow the Federal Compliance laws that regulate lending to someone's primary home.  

So the short answer is - Signing one isn't bad, as it assures your agent will be dedicated to working with you, and you working with them, but THIS PARTICULAR ONE isn't good lol. 

You want assurances, INVEST via a Pro.

The city also has a fast-track program with 'pre-reviewed' plans that will meet building code compliance.

On the tax side, additional reporting and compliance obligations need to be addressed.

The challenge is - get in compliance, even if late, before they catch you.