3 nights X 350 = 1050$, it will take 100+ years to recover the cost

Don't forget property tax, and other fixed yearly costs that don't go away when the apartment is unused.

Because they couldn't rent it out or AirBnB it the other 362 days of the year?

How many people are going to Omaha for vacation?

I know someone who bought a house in Austin to rent out on Airbnb during sxsw. He rents it out 3/4 of the year but makes most of his profit that 2 week period

That's literally not saying anything all other than he's at least breaking even, and those extra 2 weeks make at least $1 profit.

And if he's only breaking even, isn't that okay?

If he gains net $0 from it, and spends net $0, he'll (eventually) have a land asset.

Illiquid and potentially risky, but still. Getting a mortgage paid for you is a nice deal.

Or, he could take the down payment he put on the place and invest that and come out ahead. Granted this person probably does make more than $1, but if they didn't, there are other better uses for money.