AirBnb / Short-term Rentals on Long Island - Worth it?

[Christian Butler]

Hi All, 

Considering the option of purchasing a primary residence that has an apartment (or is big enough to make one) and using it for short-term rentals on the island. Anyone in the area have success with this method? Any major downsides? Not sure if the permit/CO process is the same for short-term rentals as well - assuming that's a hyper-local question. 

Regardless, wondering in general any information fellow Long Islanders have to share on the topic. 

Thanks!

Christian B.