I explained that I would like to see them searching for new housing however if it came down to them needing an extra month we could discuss that as an option in the future, although it wouldnt be establishing a new tenancy.

I am interested in establishing a Short-Term Rental (STR) in Oceanside and noticed on the City website that STRs are permitted only in the Coastal area.

They Seller Finance it with a balloon at 3 years, with the expectation you'll have established residency and be able to get a traditional mortgage. 

Most importantly I’d love to build relationships with more people in the community and establish friendships that can last a lifetime.

See if local regulations permits this first, then search on Vrbo and Airbnb to see if there are any sucessful properties in this area.

We so have a living trust, will, and advance directives (for medical decision), established in January 2020. 

Your mind will fill your purse with coins".Make sure you completely understand the rules, regulations, and bylaws of any condo/HOA you decide to invest in. 

I'm struggling to find ordinances surrounding the requirements and regulations with this strategy in Cleveland heights.

Quote from @Fred Bagirov: I am new to Cleveland and trying to understand the market, rules, regulations (and loopholes, if any) with STR properties. 

It seems like many towns are creating new regulations around STR.