1. TV's do not have a display port.
So make sure your motherboard has a HDMI.
2. TV's do not go into sleep when the monitor goes to sleep.
They do have a passive sleep, where it will goto sleep in inactivity, but it does not have a sleep command the computer can send to put the screen in sleep mode.
3. Most TV's are on BGR while Monitors unless we go into very big ones are RGB LED layout.
Here is the difference on the two format.
RGB versus BGR has been a lingering question in the monitor market in the quest to know which is which or what is better.
But overall, text is more blurry on a BGR then RGB.
If your going to be sitting up close to the thing you will notice the characters a bit blurry.
4. TV's are all Glossy which means high reflection rate.
You will see every detail the screen reflects as well as glare.
$116 Smart TV will be in my book almost utter garbage. I think you need to re evaluate your budget.
Most people underscore / underbuy the monitor long with power supply which i feel is a very big mistake.
The monitor is something that typically goes with you on at least 2-3 builds.
It also helps you resist eye strain on good ones, and there is a large difference between a crap panel and a very nice one.
And i know not everyone can afford mini led monitors, but at the very least, i would look for an IPS or a very high quality VA with good color reproduction and a frame rate of at least 120hz.