short term vacation (night/weekend/weeks/months) vs long term lease

[Jim Hamrick]

I am thinking of renting out my current house. I will be living next door in another house (our new house) and can manage the rental full time.

I live in a seasonal vacation area with a military base nearby. There is a short term rental home down the street that always seems to be occupied and is currently booked for the next 3 months.

What are the pros and cons of short term vs long term renting?