The reason landlords demand a 1-year lease is so the landlord does not have to manage his rentals like a hotel where tenants move in and out too frequently.

I would keep this principle in mind: Professional investors demand a risk premium...a higher ROI...for taking more risk.

STR's typically demand a little bit more by way of location and amenities than a standard rental, so that will impact your pricing as well.   

You should always demand a draw schedule from your contractor which shows what is due when (progress payments) so that you are never paid more than what work is completed.

What are your insights on Short-term rental demand as we go deeper into this (RECESSION) and interest rate hikes ? 

@Brandon Montgomery there is definitely upward pressure on rates, but I would expect some upward pressure on demand as buyers come off the sidelined and purchase over the next few months.

For example, in NJ if I don't handle a tenant's security deposit correctly the tenant can demand a 7% per year interest from me even when a landlord-tenant account only accrues interest at 0.15% and I have to give the interest to the tenant on the anniversary of the lease or by January 31 every year.  

Think about it this way: smart investors demand a risk premium to invest in riskier assets.

Do not buy a mobile home parks that has:1) No operating permit as evidenced by a Certificate of Zoning.2) No demand as verified by running test advertisements.3) Failing private utilities unless you have an approved plan to fix them and can afford to do so.4) Dirt roads unless you have a lender that will finance it, or the capital budgeted to pave them.5) One individual (other than the park owner) that owns a huge number of the homes (most lenders will not make a loan if one person owns more than 5% of the homes).6) Does not have a clean Phase I environmental assessment.7) Does not have a clean survey.8) Does not have a clean title.9) Is overpriced in such a manner that you will not make money with it based on reasonable performance.10) Does not have a healthy risk/reward relationship (buy low risk with high reward and avoid high risk with low reward).

Explain the situation and demand a No Trespass order against him.3.