I think Waterville is a stronger area than Augusta (college, medical providers). 

Rent it out and over 1 year or 2 when it gets close to stage 4 selling the last few homes there is usually some nice built in equity spread.If you are buying an existing home at 1% rent to sale ratio and holding try finding an under valued property in a nicer area where at least rent growth should be stronger with a good mix of appreciation.

Conversely in a strong rent growth market with mainly well educated and financially sound tenants the proper rehabs might yield stronger rents that tenants can absorb and keep paying over time.

You could keep them in a holding pattern for a few days or more to see if a stronger candidate comes in, but you need defendable criteria to show that they are weaker due to non-discriminatory factors.

While affluent areas like Elk Grove, Folsom, and Roseville/Rocklin experienced stronger demand, lower availability rates, and higher rents, older neighborhoods like Orangevale/Citrus Heights, Carmichael, and Highway 50 struggled with availability rates of 10% or more.

Most spots in Oakland County, western Wayne County, Washtenaw County, and up around Brighton and Howel are growing.On the west side of the state, Kent County and south are strong and will be stronger as Chicago grows.  

While other parts of the country saw bigger impacts from the SPMC, Lexington has weathered that storm and come out much stronger.

@Maria Silva, a conventional offer will always be viewed as stronger than FHA.

Furthermore, it is advisable that purchasers seek legal consultation to establish stronger title to properties purchased through tax sale.

Every competitor that gives way to you, you take their leads and become stronger.