Two nights is enough for Udaipur if you spend them correctly. The trick is inverting the schedule: be out at dawn, indoors at noon, back on the water at dusk.
The 6am hour
Pichola at first light is silent apart from the ghat steps. Walk from Gangaur Ghat to Ambrai and back before breakfast; you'll have seen the city at its best before most hotels start serving.
Where the money actually matters
Spend on the room with the lake view and save on everything else. A heritage haveli facing the water costs a fraction of the island hotels and gives you the same photograph.