In terms of loans, due to high income, loans won't be an issue but since I already have a 40 hour a week job, it will put a restriction to how much I contribute in Real Estate.

I would suggest looking into your local market first obviously you need to find out STR restrictions or permit needed.

Quote from @Roger D Jones: This is terrible and not legal in any way but it was pre Covid and the rules were a little less restrictive. 

. - Restricted by zoning.

There is no other protection or time bound restriction.

I only mention it to warn you that there're MORE restrictions than just the "passive activity loss" rules that you must have heard of.One very important concept to remember, and a beneficial one, for a change: restricted (the IRS calls them "disallowed" or "suspended") losses are NOT WASTED.

Pete) and have narrowed it down to finding a single family home with a pool in the unincorporated Bay Pines area or Indian Rocks Beach (note, it took a long time for me to get over my beach view condo dream in a popular area but HOA fees and restrictions helped!).

Because of that you are often restricted from selling one or two of the properties without posting more cash.

Most neighborhoods are newer with severe restrictions on rentals....same with Melissa and many places in Forney and Princeton, so you have to be super careful with that. 

I assume you don’t want to live in a unit to try to avoid some of the restrictions.