Perhaps offer a rent concession for the 5 days the home was not habitable but even that is a slippery slope given they are a STR operator and the home could go weeks without occupancy and that in itself could be the reason why items such as frozen pipes occur.

It's not enough just to put a Mickey mouse sticker on the wall or a frozen duvet on the single bed.

There's a big risk of frozen pipes or other damage without heat.

Some of the damage is done, however, there is still the issue of built-up pressure inside your frozen pipes along with the ice, The ice is making the space cramped in the pipes so pressurized water is trapped in there.

.- Residential real estate SFH market is frozen solid.

Lots of good information here -- just remember that during last housing crash, a lot of HELOCS got frozen, useless to those who counted on them or actually harmful to those who had a big balance and had to keep paying it monthly without getting to use it as they planned. 

(Never seen a frozen pipe in my life.)2)  Is there a significant drop in the tenant pool during the cooler seasons?  

Hi- I bought a foreclosure... baseboard pipes frozen so all needs to be replaced.

Almost all of that decline is coming from Aspen, where the market is frozen.

gotcha... although if you just hand in the keys your walking from your downpayment and whatever cash you have in it.your sense are correct all these folks singing on massive debt with 5 year calls are taking a certain amount of risk.. just need to look back to 08 09 when no one could refi and all these properties changed hands.. it was not because of poor operators basically it was frozen credit and banks not relenting or walls st.. hedgefund bought said notes from failed banks and refused to rewrite and took the assets.. since they paid pennies on the dollar for the paper.. foreclosing and reselling was still a better play for them..