I know that I have to pay HST/GST (14.9%) and Airbnb collects the lodging tax (3.5%) from guests but not sure if there are any other taxes, also if I should start corporation?

I've seen as high as $400-$500 for a condo downtown with luxury amenities (on site fitness center, parking, etc). 

The option doesn't have to be cheap , but should be less labor intensiveCurrent Pic :Longer version :Bathroom : Great condition , well built , but outdated , needs cosmetic update to make it look modernProblem statement : Feel bad to rip off everything , found some options online , but I feel the demo videos from these companies don't tell the whole story , so was looking for things that BP members practically used and have feedback on.Ideas researched so far :Luxury tile like wall panels - so you can install the panel in one go rather than tilingTile over Tile - of course with some important considerations such as condition of existing tileReglazing bath tubPainting existing tiles and grouting Updating all the fixtures , cabinets with high end items

Paved driveways in this area are a luxury rarely seen.

It's not a luxury anymore.In my experience, cash or checks are simply one more thing to worry about and manage in these transactions, especially if you aren't personally putting the money in the bank.   

Near you on the Kingsbury side, I recommend checking out the new addition to the Edgewood golf course-it is a public( golfing closed of course) but this summer they've just finished a brand new addition including upscale lodging, day spa and a great new lodge, bar and restaurant The Bistro.

It is a relatively luxurious place and could rent for a significant amount. 

Flipping a quarter to see who wins is not a good business model.My vote if you have no documentation is rip out the carpet, use some oil-based Kilz on the floor, and go over it with resilient flooring like luxury vinyl plank that is much easier to clean and repair when pets piddle. 

I am interested in a commercial property - a former Elks Lodge - located in a residential neighborhood for possible conversion to a six unit apartment building.

I have no idea how anyone is going to manage to get any cash from those places unless they have the cash to just pay them off, problem is they are still in a ghetto area of the beach so they still wont get any higher rents.It's funny that it's hard to find a building with 12+ units in this city, I find fourplex deals and things like that but the only big apartment buildings I have seen have already been converted to big money luxury condos. thanks for the clarification, I was just curious how you came up with those numbers thats all.