This is a market-specific approach, so if RE in your area is slow/average then you may not be able to wait.

Without knowing the specifics of how you are spending it it's hard to say if it will offset the penalty you would pay from your retirement account.

Remove any art that is too taste specific. 

one of my vendors is going to make a run in Inglewood. he has a specific Niche'

Researching 203k and multifamily investing in the Chicagoland area specifically the Woodlawn area near University of Chicago, many opportunities many decisions to make this site seems quite helpful.

As with any contract though, you'd need a very specific scope of work, material qualities, etc.

I know there are many variables and specifics involved but should I expect the dues to go back down to a lower level once the reserves are met.

Specifically how to obtain probate lists, etc...and finally what is the best avenue for finding cash buyers to assign deals to?

The re-positioning plan will be specific to your strategy and property, particularly the pace that you want to realize the value for future deals and your debt structure.Regarding the test scenario, if it works, the $50-75/mo incremental increase will certainly justify the rehab cost you mentioned at most any market cap.  

My first go at it was a success in that it got the phone ringing, but my response rate the second time around has been much higher since I've focused my reach to a very specific group of people.