In other words, these sources claim that you can't buy a property solely for investment purposes (like renting it out) without living in it yourself.Is anyone familiar with this law or regulation?

Trump did the same thing.At least, there's some regulation with the high yield debt (regulated by the SEC).

For older demographics, consider the availability of medical centers, entertainment, and restaurants.Buildings/Permits: Assess the city's growth compared to previous years.Determine if the city can accommodate future supply.Government Regulations: Examine the city's efforts and the type of businesses they are targeting.

Hey Fisher,Yes, you can live in your garage and rent out rooms in your house, provided that the garage is properly converted into a habitable living space according to local building codes and regulations.

Being that I am do not in incorporated Palm Springs, I do not fall under the city's short term rental regulations.

I'd do it as an STR, that way when permits/regulations come in you can be grandfathered in.

New unit construction cost's are at/near all time record highs in terms of production costs (labor, material, regulations, tax's etc.).

It is updated every year to comply with the new Chicago rule and regulations (residential landlord and tenant ordnance). 

When looking at SFH check city and local regulations and look at recent meeting agendas if STR restrictions are on the horizon.

They have all run businesses there and complained that they could no longer compete with the larger companies due to the cost of regulation.