I was originally taught by my SEO sensei that you can include 1 link for approx. every 100 words. Still, I wouldn't do more than 1 or 2. You definitely don't want to include more than one link to the same page. Here's a video of Google's (former?) Matt Cutts on that.
Be very careful when guest blogging for links. Here is what Cutts had to say about Guest Blogging:
I wouldn’t recommend relying on guest posting, guest blogging sites, or guest blogging SEO as a linkbuilding strategy.
http://searchengineland.com/matt-cutts-stick-a-fork-in-it-guest-blogging-is-done-182147
If you are guest blogging for links, I would suggest reading Cyrus Shepard's The Rules of Link Building here on the Moz Blog. He states that you should never ask for the anchor text, and I agree. Worry more about the quality of the content and less about the link.