The Highlander
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You could get a small, dedicated on-demand (tankless) heater for about 220$. You'd have to check the specs and make sure it can produce enough hot water to serve a hot tub's needs though.
You could also just get a standard water heater dedicated for the tub. You might be able to find a cheap previously-used one off craigslist or at a habitat for humanity. They are not difficult to install or service. I installed or fixed a million of them at my old job. If you wait until I move to DC, I'd do it for the cost of pizza and beer.
The tankless is great idea but the labor is not cheap for install the electric and other.
Up-front costs are high
The tankless water heaters we tested cost $800 to $1,150, compared with $300 to $480 for the regular storage-tank types. Tankless models need electrical outlets for their fan and electronics, upgraded gas pipes, and a new ventilation system. That can bring average installation costs to $1,200, compared with $300 for storage-tank models.
http://www.consumerreports.org/cro/...eaters/overview/tankless-water-heaters-ov.htm