Have a few courses on leased land, such as Cowboys, which is actually on a sub lease from City of Grapevine, TX who leased the land below the Grapevine Lake dam from the US Army Corp of engineers. The biggest problem there was the course being built on Federal Land at a time when the enviro regs were being both strictly enforced (as you would expect from the Feds on their own land) and changing from Clinton to Bush era wetlands regs. Started under Clinton, so the older, more restrictive, regs kept in place. The laws are very stable in the US, so undertaking such projects with "only" 25 of 50 years left on the lease is practical. I do recall they figured the debt, etc. on the possibility that the lease would end, but don't really think it won't be renewed at the end.
In general, never have too much problems with the regulators. They know the law (which has been fairly consistent in the last 10 years) and enforce it correctly. There is some opinion and judgment on their part, and you can bet that a TX or KS project will get more favorable treatment than a MN or CA one, based on the general political attitudes of the area.
I have seen some local zoning issues - such as having to move a clubhouse from preferred location because it was selling alcohol, and was too close to a school. Still, fairly easy to deal with. And, there can be local environmental issues that add complexity (and cost)
Hardest part is most new courses, and even some renovations get those public hearings. Public comments can be all over the map, emotional (NIMBY) rather than researched, etc. However, in many cases, the authorities feel compelled to add conditions to the approvals of the project based on such public opinion, which is really unpredictable, and sometimes, very expensive to the owner.