If the owner was responsible for the booking, and you are simply taking care of people as they are there (you mentioned that it is a BnB), AND your contract does not state any terms for canceling they probably can do whatever they want. 

Given I can't join any local meet ups, I was hoping to connect with people who invest in Toledo.

There may be some people who are late and you might be able to rent some of the rooms. 

This is something to budget for when considering this type of rental.Management Intensity: Managing student rentals can be more hands-on, requiring stricter lease agreements, regular inspections, and sometimes dealing with noise complaints or other issues.Seasonal Vacancy Risk: There’s a risk of vacancies during summer months unless you find tenants who stay year-round or offer summer sublets.Zoning and Regulations: Some college towns have specific zoning laws or regulations regarding student housing, so it’s crucial to be aware of these and ensure your property complies.Tips for Success:Proximity to Campus: Properties close to the university are more desirable and can charge higher rents.Furnishing: Consider offering furnished rentals as students often do not have their own furniture.Strong Lease Agreement: Have a robust lease agreement that includes clauses for damages, noise, and other common issues.Hire a Property Manager: If managing the property becomes too time-consuming, a local property manager with experience in student rentals can be a great asset.Overall, student rentals can be a profitable investment with the right management and location.

If all they need to do is walk in, fill out a form and walk out 10 minutes later with a permit in hand, then I wouldn't pay much more than the cost of the actual permit; if it's a process where they need to spend several hours waiting at the permit department, negotiating with inspectors, etc., then that's more time investment that you should be helping cover.

Curious what people do in this circumstance. thanks for your input! 

If I took 100K off your hands wouldn't you be just slightly uncomfortable...just a little? 

How come none of the brokers found the best deal for me and how could I help other people get the best rate for a mortgage.

I wish there were more people in your shoes!

Here in Texas, most people wait until a storm knocks the roof out before replacing it.