I believe this "subject to" is the way I will go as long as I have a good legal contract to protect the seller and myself.

In theory, I believe you should be able to rent out STR in any complex in California, regarding of HOA rules, so long as it is permitted with the City.Your best bet is to seek legal counsel and run the Oxnard case by them to seek their opinion.

Would I be able to legally rent out the property to 4 different families?  

Instead of a prospectus, companies will need to issue investors an offering memorandum, which is a legal document that is not pre-cleared with the regulators like a prospectus would be.

She still holds parties for her past clients (I need to go to the next one), has a newsletter she sends me, sends Christmas cards, etc.

@Joshua Redmond a good ol phrase to remember is "if the seller creates price then you create the terms" all of your questions are all factors of negotiate to get best deal possible for either party.

How long it will take if I go with legal action?

@Doug Pretorius I like to check previous transactions on a property as well as any potential liens or legal actions from the city, etc.

Basit Siddiqi Not necessarily...This law will force Airbnb to provide names and address of Airbnb hosts to city..From what I read this might give a reason for the city to inspect a Property of an Airbnb host.If I’m a host I don’t want to give city any reason to inspect my property.If host is living in Property and doing Airbnb legally in upstairs apt he might be ok but if he converted his basement to be an apt he will get fine from what I understand..I don’t invest in NYC but I know many who are hosts for Airbnb, I would be reluctant to host if I can be scrutinized by the city..This is a major win for Hotel industry...

Great beer, 300 days of sun, proximity to the mountains and legal pot (if that's your thing).