For example, do I start with following planning restrictions  to the letter of the law?

The kind I do not like are passed on from their parents who never learned to work so they expect you take care of them.There are some restrictions and annual inspection most have to do with safety(railing), smoke alarms, and sanitation....

I've met a lady who has a master lease from a hospital where they pay her 10k/month (regardless if it's occupied) and they house patients there.I would find out from your HOA  first what restrictions you have in terms of renting.

So my guess is that the restriction on daytime guests is not valid.

@Daniel O.While Seattle is pretty crazy with regards to laws restricting how landlords manage their rentals, I haven't found King County as a whole to be too bad. 

If you are lacking Capital and/ or a Partnership Arangement that does, then your ABILITY TO PERFORM is restricted. 

Maybe a bad example, but hopefully gets my point across.cant compare to land use zoning.. air bnb had a free run but we see city after city enacting ordinances I guess unless someone takes it to the supreme court and wins.. cities will continue to be able to restrict uses based on zoning.. just like you cant have a strip club next to a grade school.  

I do understand that there are many different types of properties that don't fit into the correct zoning, or go against the restrictions and operate without a problem but I still wouldn't want to start a deal knowing that I am financing something that is against the law.

double wide on land In our area will be worth 200k or more itself.. now maybe in a park.. but then you have restriction in most parks here that you cant turn your MH into a rental.. it has to be owner occ. 

I can't imagine the investor would want to put any restrictions on rentals as they will want to rent out their units to generate income.