There are areas that restrict rentals to 6 months out of the year.

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. 

There is no other protection or time bound restriction.

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.

. - Restricted by zoning.

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.

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. 

For good areas to invest, check out Seminole Heights, University Area, Town 'N Country, and East Tampa, to mention a few.