You can:Go to other markets, or;Find motivated sellers or;Adjust your financial criteria to reflect market forces (either directly or through using some value-add approach after purchase), or;Hold off expansion of your empire until the Gods (market forces) see things your way, or;Pack it in and play the stock market.BTW, drop the "two months" self-imposed deadline: You will wind up doing a deal for the sake of doing a deal, trying to convince yourself it is "good'" not because it actually is "good."

HOA's also have restrictions and some may not allow leasing or using other strategies like short-term rentals of Rent-by-the-room. 

With that level of capital you could acquire & manage the assets & tax issues without the restrictions of the REIT structure.

It ain't over,I may be wrong, but I think you're pitching paper which is a no-no on BP unless you are Pro/plus status snd restrict posts to marketplace.

It isn't restrictive (it just looks that way from the outside). 

I am aware Hillsborough county is more liberal towards 7 days or less STRs but wanted to double check if anyone is aware of any zoning restrictions in specific neighborhoods in the city?

We may try to fight this as we purchased the property specifically because there were no rental restrictions when we purchased, and this will significantly affect our financial situation with the property.

HOAs can also enact rules restricting rentals - many of them don't allow any type of short-term rentals (if you were considering AirBnb).  

Construction cost is more restrictive on our opportunities than interest rates. 

I am not opposed to STR/MTR, but my current profession puts quite a bit of restriction on that avenue.My 5-10-year goal is to shift more toward long-term appreciation and syndication.