If there are only 2-3, then investigate and question GC.3) Check with your state's Attorney General's office for any complaints.4) Contact several City Building Depts in the area and ask for list of permits they've pulled.

Are you paying any utilities as the owner, aside from water and user fee?

So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

Next, clarify expectations with your co-host—ask if they see this as part of their service or if a fee is appropriate.

You left out information that maybe relevant such as taxes/insurance per year, maintenance cost anticipated per year... plus other expenses depending on rental such as management fee(if you aren't manager), advertising cost to acquire renters, etc....

This is a company that extracts fees and does the bare minimum to stay in business.

Also Airbnb does prioritize things like looser cancellation policies, instant book, in line with market cleaning fees, etc.

"You follow-up & Split Wholesale Fees 50/50."  

And it is very straightforward to file these, so I would expect it to be well within the scope of any operator sophisticated enough to pull off an owner financed deal. 

The only thing is the HOA fees go up and they can do special assessments and you have no control over it.