Getting caught buying an investment property with FHA and not living in it likely involves an FBI investigation and a felony for mortgage fraud.I'm in a similar scenario as you and would be happy to share any of my findings on the topic or send you a few comprehensive reads.

Gives me a starting place from which to go do my homework/investigation.  

My theory is that it may speed up overseas investment as investors there race to get ahead of further devaluations (and before they're swept up in 'anti-corruption' investigations which are mostly designed to weed out anti Xi Jinping factions).There is another hit to demand that also could originate in China; the slowdown in their economy and it's effect on raw materials producers (see http://www.visualcapitalist.com/china-consumes-min... for a good look at that).

In the meantime, I continue to search out the area and have found a few more to investigate.

I casually mentioned during a telephone call that it "might be" capital gains income, but I needed additional time for more investigation.  

When did you start investigating the market?

The Texas Real Estate Commission was put on John's back and investigated him for two years then walked away and left him alone, essentially giving him the green light because he was in compliance and John is NOT a licensed real estate agent. 

For markets it works in the 2% rule can be a quick guide to see if a property warrants further investigation.

After doing some reason I saw over 800 complaints filed along with an investigation from the CFPB.

This issue is also the crux of my current decision and why I ended up here to investigate.