Will my financing plan work to buy multiple SFR's?

[Kevin McDonald]

I have four properties (Live in one, rent two, rehabbing 3rd rental as we speak). I got started in real estate by buying a unfinished house (had to get HELOC on personal residence to purchase), I finished building the house (doing most of the work myself) when I was done I got a Cash out 30 year mortgage and paid back my heloc for what I has into the property. I moved into the new house and rented out my old residence. Next I used the heloc again and purchased another foreclosed house (2nd rental) that needed work for under market value. I fixed up the property rented it out, and in 6 months I got another 30 yr mortgage for (70% of house appraised value) and that was enough to pay back my HELOC for everything I had into the property. I bought another rental (3rd rental) and I am currently rehabbing the house, when I am done I plan on doing the same thing and I should be able to get a cash out 30 year mortgage for 70% of the value which should pay back my heloc.

I plan on repeating this multiple times am I able to do this or is there a limit on how many loans I can get this way?  I have also heard I can only get 10 mortgages total, is it possible to do 10 in my name and 10 in my wife's name as long as we can qualify (not sure if we can)? 

The only disadvantage I have had so far is paying all the closing fees (recording taxes, other fees) when I purchase property originally and in 6 months I have to pay them again. 

I self manage all my properties, and all my properties are within a few miles of my residence making them easier to manage. 

Thanks