He can likely send the photos to AirBNB with a receipt for the replacement and AirBNB will reimburse, but it's a pain and depends on AirBNB's approval.I probably would've made the same exception too, this is a good reminder to still exercise caution!

Lenders are tightening up their purses and until there is clarity in the capital markets and you KNOW with certainty what the lender requirements are, it's an exercise in futility.

My one older brother even took a tour last week as he can't resist the cheap airline tickets....So yes, dont trust US media....Looking at what they went thru gives me confidence that we will come out of the other end soon too, provided we apply the same self discipline that they exercised....

In practice, however, I've never heard of (1) a bank realizing that the property was sold, (2) caring, since they're getting paid, or (3) exercising that clause.Some people only do Subject-To for a short time while they work out another exit clause. 

You hiring them should have been formalized and documented, including the W2s, just like you would do with an unrelated worker:https://www.nolo.com/legal-encyclopedia/why-its-tax-smart-hire-your-children.html1099s are not appropriate for your own 12 and 14-yo kids, because you exercise complete control over their work.

As of now, most realtors are probably still telling their clients everything is peachy, just need to exercise caution when showing.  

My clients are still able to exercise 3.5-5% down paying PMI and getting rates in the low 3%.

My question is how likely are they or their brokerage to exercise that clause?

Here's an example from an actual BRRRR I did (except for rounding a couple numbers to make everything easier for this exercise):REFI LAST:Purchase w/cash: $25,000Rehab: $30,000ARV: $100,000Loan (@ 65% LTV) = $65,000Closing Costs: $5000PITI: $550Rent: $995Equity: 35%Out of pocket: $0 (actually made $5K)REFI FIRST:Finance $25,000 (w/20% down): $5,000Closing Costs: $5,000*Rehab: $30,000ARV: $100,000PITI: $240Rent: $995Equity: 80%Out of pocket: $40,000*This is probably going to be lower due to a lower financed amount...but still, hopefully you get my point :)

And he still gets use of the property while he does that.Then in the 5 years or whatever he exercises the option and purchases the property.