Most of us know the rule "Do not hyphenate an '-ly' word." This rule perhaps need a little more definition.
Do not hyphenate an adverb that ends in "-ly" to the word after it.
...recently built homes...
...highly regarded leaders...
This does not apply when the "-ly" word is not an adverb. There are many "-ly" words that are adjectives.
...twice-weekly appointments...
...family-friendly location...
Happy punctuating!
Margie