I would be fairly sure the bank offered you the option of de-winterizing and re-winterizing the house to enable you to inspect the plumbing system.

Should things not work out it allows you to go after either one, or both for the entire amount.Other option would be to offer them a new 12 month lease, especially if its easier to find tenants in summer vs. winter.

They agreed to a 6 month lease in case they had to move back. the rent is significantly higher because of that. that will get me through the winter and into the summer months.

Does anybody purchase properties over the winter but hold off to rehab until feb/march?

If in your shoes, I'd try and weather the storm through the winter and then get them out or evict when the weather is warmer and when it's easier to re-rent the unit.

Time on the market will change that, as will the winter months.

While you have a bidding war to lose, you also could potentially lose a good bit of upside if the market drops between now and Spring.If gambling and trying to time the market is something you want to try, I recommend you hold off until next winter after the election, hope that there is a major change in which parties are elected, and then take advantage of the influx of new politicians and their staffs to DC (who will be looking for places to live).Of course, I believe that's a bad decision as well.

Things move a lot slower when it's cold and I got stuck carrying it through a lot of the winter and had to keep dropping the price, as the holding costs ate me alive.

I was considering if it's worth it to sell some gold coins to purchase the next property and then wait the 6 months (over winter) and then pull equity out to fix it up in the spring.

I'm from Nova Scotia, Canada, and am one half of a company that specializes in acquiring American real estate for both Americans and fellow Canadians (mostly vacation spots; have to escape these winters somehow!).