The timezone restriction is a much bigger deal than most people probably anticipate. This depends on the company, of course, but unless the work is something that can be performed largely self-sufficiently, it's entirely likely that you'll either end up working overlapping hours at your own inconvenience, or you'll get stuck doing the work no one else in the team/company wants. Even if a large corporation this is a major problem. Speaking personally, I employ about 100 people and the biggest team locations are in Chennai, Guadalajara and Huntsville. Each of these sites has a local senior manager/director and -- with the exception of Chennai -- multiple product owners. I have a few guys working from home remotely (DB supervisor is in New York, architect and one of my senior managers are outside Glasgow, a couple of guys are in SJ, and an architect/lead dev in RTP). I sit in a small sales office in RTP with no one from my team, and I work from home all but a handful of days per year.
I only go into this level of detail because what happens next is potentially of interest. When you have a mix of WFH'ers and office staff, unless they are leaders -- either technical or management -- the WFH'ers get shafted. They are left out of meetings, usually inadvertently and usually ad hoc meetings, but this can have a huge impact on morale and productivity. They are assigned less critical work because the team and leadership often feel less comfortable not having local failover in case of emergency. This may be an organizational failure, but it is a common scenario and one any remote work candidates should be aware of when they interview. By far my highest performing teams are the ones where everyone is co-located, but ymmv.
I only go into this level of detail because what happens next is potentially of interest. When you have a mix of WFH'ers and office staff, unless they are leaders -- either technical or management -- the WFH'ers get shafted. They are left out of meetings, usually inadvertently and usually ad hoc meetings, but this can have a huge impact on morale and productivity. They are assigned less critical work because the team and leadership often feel less comfortable not having local failover in case of emergency. This may be an organizational failure, but it is a common scenario and one any remote work candidates should be aware of when they interview. By far my highest performing teams are the ones where everyone is co-located, but ymmv.