They are all over the place here.

They make more money than rentals so long as you can keep people in them consistently. They do get trashed so the owners spend a lot of time cleaning and fixing things from what I have observed.

Back out of the driveway and run over the mailbox.
Lost their keys so they dismantle a window to get inside.
Stained carpet, clogged plumbing. ect.

Winter is slow so they sit empty for days vs nice weather so the money is inconsistent vs a rental. Then if someone destroys something you have down time getting it fixed.

Many houses that are put up for sale at stupid guy prices and do not sell get turned into these in the interim until they can sell it later.