Are short term rentals worth the headache?

Beach week and spring break are two very lucrative times of the year for certain economies.  When I finished high school Rehobeth Beach was my home for 7 days after my graduation.  In college, I went to Mexico for Spring break.  This is an ongoing event for kids right out of high school as well as kids still in college.  A lot of investors have made short-term rentals out of their condos.  Myrtle Beach, for example, is home to many condo developments and many owners are renting out their units at very high prices to cash in on kids desire's to "let loose."  Owners usually have these units furnished and in certain times out of the year, make big money.  But is the headache and hassle really worth it?  I asked a friend of mine who owns a Myrtle Beach condo and rents it out part time what his experience has been with renting to college kids and kids on the verge of entering the collegiate world.  He told me that there are responsible ones and those who have no respect.  Sometimes, he has virtually no problems when other times, the security deposity doesn't cover the damages incurred in the unit for that specific week.  There are similar situations all over.  However, my friend said that he continues to rent out his unit as he makes a ton of money.  By renting out his condo just 4 months out of the year with short term rentals, he can cover his entire mortgage for the year.  Many new condos are going up in the beach cities such as Myrtle Beach.  If you're an investor looking to hold on to a unit for a while, perhaps you should check out the short-term rental option.