Does this cover your payment with taxes . insurance, and a little for repairs? 

Think of their fee as extra insurance that the deal will close. 

When I tried to get the bank to let us pay for and get insurance on the property, they sent me an acceleration letter.

With this info they could also easily identify all illegal rentals and smack them with fines too.HONOLULU (AP) — Hawaii is seeking to find vacation rental owners who aren’t paying taxes by getting Airbnb to turn over rental records.Hawaii News Now reports the state Department of Taxation filed a court petition last week to serve an administrative subpoena on Airbnb for rental documents dating back to 2008.The department is investigating vacation rental owners’ compliance with the general excise and transient accommodation taxes.State Director of Taxation Linda Takayama says the department’s goal is to get the taxes paid, which could involve penalties and interest fees if owners haven’t been paying.Airbnb in a statement said it has received the request and is reviewing it.

Make sure you carry proper insurance if it is being run as a group home.

If not, keep this letter with your important documents and keep me in mind.

I was frustrated with all the financial documents they needed to see.

(Government qualifications requirement)The so-called "stress test" determines the borrowers ability to qualify as follows.If  the mortgage loan is to be insured, the borrower must qualify at the higher interest rate of either:the Bank of Canada’s conventional five-year mortgage rate (presently 5.34%)the interest rate you negotiate with your lenderIf the mortgage loan is uninsured, the borrower must qualify at the higher interest rate of either:the Bank of Canada’s conventional five-year mortgage ratethe interest rate you negotiate with your lender plus 2%Regardless, interest rates are still considerably below their historic range of 7-9%.

The longer the gap in insurance coverage, the higher the future insurance premium.

You just keep all documentation with your files taxes in case you are ever audited.1099 requirements are another topic.