You can let the $12k ($6k per person) grow while you educate yourself and withdraw the money later penalty-free. 

If it's a slow market and you have a hard time finding a qualified renter, then you may consider a longer period but that should be on a case-by-case basis and rare.

At a 17% tax rate, my cost for the $482k withdrawal (includes tax payment) comes to $82k in taxes.  

In the other hand, Ingeneers tent to be very analytical and slow to act, always thinking on the risk factor and minimizing risk.

Also important note for those that have to work through the VA, get your COE early and make sure your military unit has given you the proper documentation required for the COE, that slowed down my loan process considerably although I was still able to close a week early.

@Kyle NeffWhen you write a check from an LLC, you are performing an equity withdraw.

I understand there's the University there, it's had slow but positive population growth, and a decent unemployment rate.

I'd call the plumber, ask if he knows what caused the slow drain - and verify he was paid in full.My lease also says they are responsible for clogs unless the stoppage is between the outside of the unit and the street.I'm guessing that being a A Class tenant they did not want to put up with even a slow drain and have the $ to pay the bill and know it's their responsibility and that they're only looking for a little goodwill or a 'thank you' in return.

Then again, many people who utilize their 401k for alternative investments are probably more likely to withdraw from the program in the first place.

When the repairs were slow I did lose sleep over that one because I knew we would have to address the issues there in person and that it would take quite a bit of time.