She estimated we could loan up to 500K on a mortgage with 5% down at a 6.8% interest rate. 

You could borrow up to usually 50k for mortgage loan.

A 4plex can be done with conventional mortgage, but anything above that will be a commercial loan. 

Very high interest rates, Easy times to find deals with conventional loans and hard times and recently the housing bubble / crash.  

Hey Joseph, I 100% understand what you're going through.My wife and I used a HELOC, 401(k) loans, and even an additional personal loan to acquire rental properties in Detroit from 2019-2021 ultimately acquiring 12-doors.We paid cash, renovated when necessary but some were also turnkey, and refinanced out on the backend.

If you are looking to tap into equity of an existing rental property, your best bet is either cash out refi using DSCR loan or 2nd equity loan.

Just a standard conventional loan?

At most MLS prices, you will not even cashflow $100-150/door with a 20-25% down commercial loan.

Someone who can structure hard money loans and JV deals.

I'm not sure what laws you think are unclear, but the loan requires occupancy within 60 days.