Read this book:
How to Rent Vacation Property by Owner
...then read it again.
And when you think you have all the info you need, read it one more time.
I have a business associate that recently built a home in Aruba, and rents it out when he isn't using it just like you plan to do. He originally had a management company handle the rentals, but realized that he was hardly breaking even once they took their cut for the rentals and he paid the various fees necessary to maintain his property. (pool service, maid services, etc.)
He's now renting it himself and finding out just how much work it is to manage a property from such a great distance. You really need to find a few local folks that you trust and can call on when something needs to be handled in person and right away. (unless you have the luxury of hopping a plane every time a toilet backs up or a fuse is blown)
Not trying to discourage you at all, and your plan is certainly feasible. Just make sure you know what you're getting into.
