The only ones making money are the ones who go above and beyond to make the property a destination. 

That said I'm not saying that vacation destinations aren't bad, however I would look more to lesser known regional markets that are an easy drive from population centers. 

Unless you made it such a destination that word spread and people came just because of the wonderfulness of the place.So yes it's very possible, but you need some kind of draw.....not just being rural....

Full disclosure, I own a real estate company in Killington, VT, so I am probably biased, but Vacasa ranked Killington the number 2 destination to buy a vacation home in the US just a few months ago.VermontBiz.com There are over 300 AirBnB rentals in Killington and at least as many other short-term rental properties offered through the resort and private rental companies.

Looking into purchasing a property for AirBnb in the Destin or Bradenton areas.

You would think my state is the number two destination in the country, but that is not what this ranking actually shows.

Something like spring break if your location is a destination for that, big convention or event, etc.

It's also in the heart of wine country, the Finger Lakes, and a destination for people looking to do wine tours.

I started looking into purchasing a property that we could rent out short term as it seems to be a popular vacation destination that covers all 4 seasons. 

I'm interested in higher rent STRs in a true vacation destination or more passive LTRs that I have paid cash for and have a really good cash flow.I'm not interested in mid term at all.