@Steve LymanThat's a great question that we encounter daily, with increasing frequency.There's nothing that you "need to do" to qualify to receive IRA or 401K funds.

Most of the properties I'm looking at purchasing are in the 200k to 400k ball park, which would mean a monthly payment increase from $316.00 to $632.00 per month.

Your $50 increase is just under 10% of existing rent levels, and would put you about 13% less than the $700 goal.  

After seeing several posts regarding pet rent, I decided it is a perfect way to increase cash flow.

I'm expecting high equity on this property, so did something I generally don't do - I factored in 0% PM, which probably isn’t a good idea, but I plan on managing myself for the first year or two, and depending on the market, will either increase rent or sell.

She was turned away from every other landlord or mega apartment complex because of her credit score (she went through a divorce) but I want to help her increase it because she has been great as a renter.

I am looking to renew the leases and increase the rents to market value.

I'm reluctant to do a refi since I have great rates locked in and I'm not 100% sure when I will need access to the credit lines from the HELOC, plus I'd rather avoid increasing my payments until I need the money.

I found a 2 bed/2 bath with a fully finished basement which i turned into a 4 bed/2 bath, increasing the rent significantly. 

That has come up in a few recent podcasts about the need to create good deals as they are increasingly hard to find.I tend to focus in the same areas as you and have had the same dilemma, lower the rate of return you are willing to accept, or wait it out.