From 2012 through 2017 we acquired at least one small San Diego multiplex per year (San Diego RE is not cheap) excluding 2016 (we made offers in 2016 but did not close on any). 

This excludes those that invest in properties valued below 50K since they must use cash to purchase.Income properties have two separate income generating streams.

(a) In determining the lowest gross rental amount pursuant to this section, any rent discounts, incentives, concessions, or credits offered by the owner of such unit of residential real property and accepted by the tenant shall be excluded.

There are things insurance excludes like flooding, toxic spills, sink holes, earthquakes, unless you buy a ton of special (and expensive) riders for your policy.  

As per AZ law we have to send out itemized deduction letter within fourteen days, excluding Saturdays, Sundays or other legal holidays.

An easy rule of thumb to get you started is that countries whose basis of law is based on British Common law usually do not have restrictions on foreigners owning land.i.e.UK, Australia, New Zealand, Hong Kong, British and US virgin Isles, The Caymen Islands, Belize, Canada (excluding Quebec which is Napoleonic law). 

I assume places in Canada, like Ontario, British Columbia, Winnipeg, etc, aren't excluded from this?

That excludes almost everyone from these deals and the wonderful returns they can bring.Future plans & GoalsCurrently I have acquired 5 properties (6 units) through this method.

(>$200K annual income single OR >$300K married OR net worth >$1M, excluding primary residence)2.

Here's a couple excerpts from the document referenced:"housing providers that apply a policy or practice that excludes persons with prior convictions must still be able to prove that such policy or practice is necessary to achieve a substantial, legitimate, nondiscriminatory interest.