Year leases offer consistent income (less chance of vacancy), and tenants can plan to vacate after a year.

A place that the family always thinks of and goes to for reunions or vacation? 

I have a vacation rental townhouse in Rehoboth that I tried to rent for the winter months last year on FF. 

My advice probably isn't the one that will maximize your return, and it may not even be what I will follow as we continue to grow our portfolio, but here it is.My wife and I manage 5 units (4 we own, and 1 we arbitrage), and we allow anyone to give us 30 days notice to vacate at which point they can be let out without penalty.

I also agree with you in that, "most people spend more time planning a vacation than they do their retirement"  We vet every community and property we buy, and we invest in index funds, to make money.

I've got a long enough history with LTRs to know that generally you don't want tenants doing more or less anything because it's amazing how little common sense a lot of people have, and this translates into not asking guests to do chores because 1) they've paid a cleaning fee, 2) it's a vacation even if it's a home, and 3) guests that do chores might just put dirty towels back on shelves and dirty dishes back in cabinets. 

The latter two are just a little erratic to me, meaning they produce projections further away (above or below) from what I see in my clients' own vacation rentals.Not sure I can give you a great breakdown.

Quote from @Hannah Tate: All, I am looking for some advice from anyone who has had experience investing in short term vacation rentals internationally.

Does it vary depending on property type and unit count (SFR vs Multifamily, vacation rentals vs. long-term rentals)?

I want to live in one unit and rent out the other unit to help pay off the mortgage, then buy another spot when I have enough saved up as a vacation home.