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. 

I’m just learning the market in Louisville and I saw they just tightened str restrictions.

The broker may not want you to do that or may have other restrictions. 

So in house loans would give me less restrictions for me to be a little more creative.

Curious about potential STR restrictions.

First step is to check with the city or county to find out what the zoning is and the allowable uses are and what is required for development in terms of lot coverage, setbacks, height restrictions, utilities, access easement, parking,  etc.