Ouch @Brandon Turner , that would certainly make me *heated* hehe.. ahem...

Gas, electrical & heating codes are scrutinized esp., if the city sells it to you & that's an acceptable safety precaution.In fact after the last tax lien auction each NEW owner was required to meet with the Bldg Inspector after taking title to review the code violations that appeared out of no-where.

So the heat pump broke on a rental of mine.

Most people prefer gas also for cooking because it heats up quicker.

You should have a back-up heating system where heat pumps are used in the northern part of the country.

Is there a lot of mechanical work involved (heat pump, boiler)?

Only thing I would add other than turning the water off is be sure the heat is on.

Also, you will have really high utility bills, because your guests will leave the heat at 75 degrees with the window open.You will also have to either get a management company or deal with marketing, reservations, contracts, receiving payments from guests, security deposits, housekeepers, maintenance, keys, etc yourself.

My tenant is refusing to pay rent because of a heat issue.

Was it because they let the heat run out (oil or propane) and the pipes froze?