Many places have no limits, however the landlords can place limits, HOAs can place limits, and other community orgs can place limits, local governments can place limits.

I was at a tax sale in Utah recently and there were properties that people were paying full market value for, and they were not aware or considering the fact that these properties had mortgages and liens from HOA's and all kinds of things like that. 

Problem is HOA is broke 53 delinquent owners owe us $300,000 an unpaid heating cost. $65000 in reserved 152 units.

Equity: $300K-I currently live in a 2/1 condo a block from the beach with $40K in equity worth $505K-I plan to sell my condo (mortgage: $2,600 + $350 HOA = $2,950) I currently live in to cash in on $40K  and release my VA loan (military) so ...…………….SHOULD I1 - Use my 250K for a down payment to buy a state of the art /new home 3/3/2 larger property; kitchen island, smart house, 2 car garage and extremely large rooftop deck, a block from the beach with a HOT HOT market for a house for $875K that will significantly increase in cost as they are building new restaurants and breweries in the area making it extremely desirable and pay 4K monthly (already pre-approved)or2 - Buy a 2-4 unit plex somewhere inland that is not as nice as the market in San Diego is high for 2-4 units and live in one unit and rent the others.Please advise as I want to have the most cash flow, but also want to have a bigger place for my 2 kids that is near the beach that is atleast 3 bedroom.Is there anything else I should be looking at for now?

@Nakia Addison the major factor to consider is the HOA as many association dues are so high that they eat up any potential profit, if the numbers work it is doable but the property won't resell as well as an SFR when times aren't as good as they are now.

My BAH covers all the expenses related to the mortgage/ HOA fees. 

@Eric Boakye(Rent) - (PITI) - (all other fixed expenses such as lawncare, utilities, HOA fees, etc.) - (estimated* % for capex, vacancies, repairs).

Fees include water electricity HOA parking etc.

This can include restrictions on the number of tenants vs owners in the property, limiting signage for renting or selling, and so on and so on.If the HOA ends up in a lawsuit for whatever reason, it often makes units unsalable because no bank will lend into a property where the HOA is in litigation.I hope none of these issues affect you but please be aware of these risks.

The upside is you don't have to follow arbitrary rules of the HOA.