You probably at least need to have a consultation with a lawyer to look over your HOA documents with you.
Yes, there may be fair housing laws that apply to make such action illegal. But there may be other legitimate reasons they could prevent you from renting as well. An attorney would have to look at your HOA documents to tell you whether or not it is legal for the HOA to prevent you from doing that.
Douglas N. Kiger, Attorney at Law
Blado Kiger Bolan, Tacoma, Wash