It's likely a bit more expensive than gas, but it hasn't been worth my investment in switching over to gas.

You may also have to check what requirements there are for the existing part of the structure to be reused.My mom's cabin burnt down from a gas explosion and following fire. 

For your lake vacation rental...fishing equipment, a non motorized boat, a well stocked kitchen with all utensils and gadgets, a wine fridge or a kegorator with a craft 1/6 bbl, gas or charcoal grill, chimenea, cornhole game, a SMART tv, an accurate pellet gun with pellets or a scoped single shot .22 or .17HMR, some adult movies and a blue ray player in the master bedroom with an HDTV, bubble bath if you have a tub or jacuzzi, an indoor/outdoor sound system, some mountain bikes, binoculars, some games like trivial pursuit/electronic darts, two single shot shotguns and a skeet thrower with skeet, an outdoor firepit, a "help yourself" herb and vegetable garden, tiki lights, a small trebuchet for the kids, some basic tools like a socket set/wrenches/screwdrivers, and finally the most important thing...mosquito repellant.

It makes it easy to police since you need permit to install a gas line to range or the 220 power for an electric range.

I liked the condo idea, as I could manage them somewhat easily from anywhere in the country and continue my work in the gas and oil.

Well except for one little opinion here....doesn't anyone see a conflict with the new head of the E.P.A. being a former lobbyist for oil and gas?

Hi Jason ,Some other things to consider ,is there electric to garage ,is it above or below ground (code )I suspect you’ll have to run water out there ,then dump it ,how are you going to do that $$Then water heater ,plumbing ,furnace,meter it separately for gas ?

It does have gas, what should I add for that a month? 

I think at least you should try for a tax abatement especially if the property is vacant ground Also they may be able to provide grants for demo if the property has any existing structures.3) I would also suggest reaching out to the local electrical/gas provider to see if they have any programs or grants available.

Assuming $1,500 rental income per month below are my monthly expenses:-Principal, Interest & PMI: $618.82-Property Tax: $289.14-Insurance: $208.33 (can probably be reduced by shopping around)-Water / Sewer / Gas: $45-Electricity: $40-Lawn Care: $70 / month (summer); $35 / month (winter)-Vacancy: 5% of $1,500= $75-Repairs: 5% of $1,500 = $75-CapEx: 7% of $1,500 = $105TOTAL EXPENSES = $1,523.29.As you can see the expenses are higher than the expected rental of $1,500.