What are the restrictions and what type of email we can send?

There will be no restrictions.

You will get everything unlimited (contacts, email templates, email campaigns, reports).

After the server setup, we will handover it to you, you will get your own URL, username, and password for using it.

You can use this system for sending emails to anyone you want.

Although there will be per day email sending limit based on your select package.

Read the following article:
Edit Article Why is there a daily sending or per hour sending limit? It will be my own setup and so why I can't send as much as I want?

There will be no restrictions but, it will be good for you and your email delivery if you will use a good email database and send good content.

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