One of the Sellers is an American citizen on an extended stay in Manitoba outside of Winnipeg.

I would send them notice of three violations. 1) lease says no pets...get rid of the cat before it destroys the property.2) stop smoking on the property or face eviction, offer to release any smokers from the lease.3) cure the insect infestation immediately.Inform them you will me making regular inspection visits and expect the issue to be resolved.Your other option, if you have no desire to inforce your lease is to tear it up and write a new one that you do intend to inforce.

I can also always negotiate with seller and extend the term . 

Set mile markers of when the funds will be released.

There should be an option to extend 

I am handy, but it isn't practical to extend the walls to the hard ceiling (my first thought).

I was scared to extend myself with a nebulous future.

Toshiba hasn't released the Vista compatible drivers.

Once a borrower becomes delinquent on his or her mortgage, that person develops a negative attitude not only about paying the mortgage and his or her general finances, but also about the whole idea of homeownership — significantly more negative than homeowners who are underwater on their mortgages, but are still current in their payments.That’s according to a Fannie Mae study released this week.http://www.marketwatch.com/story/what-delinquent-borrowers-are-thinking-2012-06-15What do you think?

I have a feeling (and some data) that suggests the market is going to loosen up a good bit in the next couple months and banks are going to start releasing a good bit of inventory -- if that influx of properties materializes, I want to be prepared to take advantage of it.