I secured a 2.25% 30 year fixed interest rate on a 4 unit MFH.Now, I have a significant amount of equity in the property, and I'm wondering the best way to access it (if at all?). 

Additionally, small loans like you're describing are not looked kindly upon by lenders because they're doing the same amount of work as they would on a $500k loan but for a fraction of the yield.

That's a good amount saved up to buy quite a bit of property on the east coast.

For example 100 dollars flat amount.

Also, does the initial draw have to be the full amount like a HELOAN even though the product might say HELOC?

You could try to “fly under the radar” and use the existing septic but 5 vs 2 bedrooms is a massive difference so I have to think you’ll be dealing with septic problems.

To find out the amount of the subordinate lien through the NSP program, you’ll want to pull the title report for the property.

The Commercial Loan Officer I am working with comes up with a Loan Amount of $336,000 (Total value is $448,000) because of the low rents.

I think that's a nice amount of money for their work.

If there is equity above they will most likely bid it all the way up to this amount.