Yeah... not that simple.
You'll need to live in a property you own or that the landlord does not stipulate 'no banned/illegal breeds'.
You need to be resident at the listed address all the time, so if you work away, are studying away, ill... basically if you're away without the dog more than 3 weeks out of 52 (that will include holiday!)... you've breached the certification conditions. The dog is registered to one keeper, so its not like you can leave hte dog home with husband/wife/older teens.
You can no longer get health insurance for an exempted dog - only third party liability. Got a dog that has a 'for life' policy, and existing health conditions. Tough.
You'll find it hard to find secure fields (whilst they're a great idea, a private hire field, many are not insured for exempted dogs and aren't going to get insurance, its not easy) to allow exempted dogs to run around.
All walks thus are on lead and muzzled - the 'public places' one must muzzle a dog include anywhere theres a percieved or assumed right of access to the public (ie delivery people, emergency services) so this may include your front garden and car.
You'll need to fund the exemption itself, plus neutering/spaying so thats anywhere from 500+ and for some the time limit for that is pretty short as its related to the age of the dog.
Finding trainers/behaviourists - difficult, the good uns are well insured but many insurance companies are not willing to cover working with exempted dogs. The bad uns of course couldn't give a shit.