Hi @Nathaniel93
Not sure exactly where your potential property will be, but I would do a thorough search of both Kingston & Ulster County for what the current and future potential restrictions for Short Term Rentals are as @Helen3 mentions. Looks like Ulster County has just increased the Occupancy Taxes to 4% (from 2%) and are contemplating Short Term Rental restrictions. Lookings like Kinsgston already has them. It would be wise to know what the permitting, fees, restrictions are before you purchase the property. This would include any restrictions enforced by an HOA if that applies to the property you are interested in.
Many local jurisdictions are jumping on the "restrict short term rentals" bandwagon and especially target those that are not owner occupied likes it sounds will be the case with your potential purchase.