No problem living here, you just have to be able to show a believable source of income from outside Thailand to show you don't work illegally in Thailand.
Of course we are talking about people who are under 50.
According to Thai immigration law, no there is no limit. However, certain consulates outside Thailand impose their own limitations. Also individual immigration officers at the border may be suspicious of you working here. So long as you can show you don't work here you'll be fine.
A few years back (5?) it used to be possible to get a one year multi entry B visa this way, then they changed the rules so only people with a WP can get the one year. For people in my situation its single entry only. I may ask in Saigon if it has changed back but would be surprised if it has.
Letter of invitation from a Thai company, lots of paperwork from and about them, plus letter from overseas employer saying you are going to attend meetings and to do some consulting.
I'm actually setting up a Thai company but its taking longer than I thought.
Do you know if there are any limits to how many Non B's one can get from the same consulate? I'm about to head back to Saigon for my second in a row from there.