I would like to pull out the max I can get to fund purchase and rehab of more property. 

That's a little over 8 years to pay back and you want to be in that 2-4 year range typically or 7 years max.  I

Many don't do this, but because my daddy owns a few other types of businesses, also a few commercial properties, we decided to put our 7 residential properties into 2 LLCs (our attorney said max is 4 properties per LLC, not sure if that's a Tenn. state rule, or what) for another layer of protection for him (& his children) & his estate.... anyway, we have a separate checking account and separate credit card for each LLC and we use QuickBooks Pro (desktop version) and my very uneducated & amateur Excel Spreadsheets for keeping up with (or trying to!

I crunched the numbers and I think the max I could offer would be 200k. 

I knew my job in social work would never allow me to gain the capital I need for investing, so I got my real estate license in March and joined a team at RE/MAX. I

I know what my max $$ is for a 1 bedroom unit etc. and I can just add that up to find my max dollar per property.  

My thoughts are the max I could offer are 4 legal bedrooms and a "den"(labeled bedroom 4, no window in room, but has closet).

Hi MaxI could be wrong about this but I think that once you hit 5 units its considered a commercial property.  

I can certainly want a 4 unit multi-family in a specific area, but if it'll cost me $900,000, and the max I can pay is $1500 a month, then why am I going to get pre-approved?

We (my wife and I) have a couple lines of credit totaling about $95k max (I don't want to over utilize these, they are more of a backup).