@Robert OmbresNearly all insurance carriers publish a "restricted breed list" - these days, regardless of the Association's policy, if you have a breed on this list, it puts the association (you) at risk.

We have 3 now and I really don't understand the mechanics of owning more than the limit imposed by lenders.Any advice will be appreciated.Thanks in advance,Cheryl and Jack

You can still accrue them for future use (and I am not a CPA, so I may not be getting this 100% correct), but there are limitations that the tax law imposes.  

Is there any legal or regulatory restriction on me closing all 10 deals?

I'm restricting myself to the 4-plex idea because of financing.

I'm restricting myself to the 4-plex idea because of financing.

There should be legal documents that spell out the restrictions for the property.

There are restrictions etc but look into it as an option.

While having a criminal record is not a protected characteristic under the Fair Housing Act, criminal history-based restrictions on housing opportunities violate the Act if, without justification, their burden falls more often on renters or other housing market participants of one race or national origin over anotherSection 3"A housing provider violates the Fair Housing Act when the provider’s policy or practice has an unjustified discriminatory effect, even when the provider had no intent to discriminate."

Or, do the 401k contribution now and still be able to invest in REI, but in a somewhat restricted manor?