Purchasing a vacation home as a rental

[Matt Denton]

I'm planning out my investment strategy for the next 5 years and am considering adding a vacation property to the mix at either a lake or outside of a town we love visiting in the Texas hill country. I know there are websites like vrbo that can help rent the properties but I would like to know if it's a huge hassle to manage one and if weekly rentals tend to cover the cost or if it's more for personal enjoyment?