So I saved you 5k and read my post above on why short-term rentals are a far better investment without the headaches of going to court to recoup damages or fight claims of being a slumlord (which by all accounts he is) 

If they suspend/lose their license, they're dead in the water.

so i'll throw out my standard cold water.

Regardless, you might find the copy & paste info below helpful:)--------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The property has 2 electric meters and one water meter.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

It will be quicker I am assuming and will save money on my construction loan interest as a result but want to hear some other thoughts from others with more experience with new builds.for some context I am in Dutchess county ny, property has public sewer/water. 

Needs all new cabintry, windows, doors, roof (has some life left), fixtures, fencing, some electrical and plumbing changes, and some framing/drywall due to termite damaged sill plate in areas.

I have lost a lot more $$$ to tenant damage than to unpaid rent.  

My lease requires renter's insurance which should cover loss of use if the unit becomes damaged/uninhabitable, but I don't think renters insurance covers costs of living expenses incurred during just an evacuation.