. - Inefficiency with payouts and administration will be compounded as the FAIR Plan has zero experience with a major pay out and lack infrastructure of assessors and technology to distribute the funds they don’t have.

I am not sure what the means for insurance payouts, replacement value and property value are VERY different - does anyone know?

it also means their interest rates change with the Bank of Canada rate. 

If I create a debt fund that offers 9% interest on first lien notes with a 5-7 year payout, would that be attractive to high net worth investors?

Quote from @Dinesh Nair: I am a Canadian investor with a US corporate entity- we closed on our first property and now working to find financing through a lender… however rates keep changing all the time.. is there a site to track rates ? 

Insurance coverage for the structure covers up to 650K if a full payout is given.

I have not explored 1031 exchange but given current interest rates may be tough to find a cash flowing deal elsewhere.

I've been investing in STRs since 2005, and I have only had a handful of items of any value that were broken, and I would rate these as probably from lots of use. 

The "variables" you speak to could mean this is worth every cent of a 5.4% cap rate to "I wouldn't touch this for a 12 cap".  

You are likely overpaying by $5,000.Broker fee of $3,000 and Processing Fees of $2,000 seem out of place...but then again, i never used a broker to get a loan so I am not sure about that.If the broker was able to get you an interest rate or loan product that you wouldn't be able to find on the open market...its high, but likely fair.if you are getting a loan product that you could have gotten by going to a normal bank...seems high and unnecessary.