This is how I have the code in the functions.php file:
$site_features = get_field('site_features');
if( $site_features ): ?>
<ul>
<?php
// notice the missing "s"
foreach( $site_features as $site_feature ): ?>
<li><?php echo $site_feature; ?></li>
<?php endforeach; ?>
</ul>
<?php endif; ?>
