Last time, we discussed how to address plot holes and keep world building internally consistent. Today, I will share my thoughts on rewriting, specifically on when you should rewrite, and when you should stop. I should mention, though, that parts 1, 2, and 3 of this series can and should be done simultaneously. That is, while you're rewriting, you can fix plot holes and issues with timing, and when you're looking at some inconsistencies in world building, you might find a section you need to rewrite. So the first answer to "when should I rewrite" is "when you have to fix the problems with continuity, world building, and plot".
But what about in general? First of all, what do I mean by rewriting? I'm not talking about tweaking a sentence here or there, or find/replacing a character's name, nor am I talking about changing the details of how a certain magical creature looks or wether the moon should be waxing or waning in one scene. I'm talking about full on changes to scenes, chapters, or entire books. This is hardcore stuff. Fun, but hardcore. First, let's talk about dealing with different drafts.