My main concern is that someone  told me that there are HOAs whose rules are so restrictive that people who bought lots found they couldn't even build.

My approval odds aren't great, I'm a first time investor without any exciting financial history. 640 credit.

You want a ratio of 1 to 1, anything higher is more restrictive and can mean you will get less money then you are after. 3.

I verified with the city and investors can add them with meters on single-family homes as long as there are no deed restrictions.

Also depending on if you want to stay in Clearwater or not there are also some local restrictions on STR.

As the property is a SFH (Single Family Home) it is exempt from the most restrictive rent control measures in place. 

And there are strict loan covenants  that require doing on going work with Naca  deed restrictions on when you can sell etc etc. 

A couple of questions, although several have already been answered on this forum...Is it worth shopping around for multiple lenders due to perhaps differing terms on these (rates, restrictions, fees, etc) or are they all generally the same?

Very odd from my point of view. 

Good point -- she might be telling the truth, but it sure feels odd.