We have rented twice through VRBO. Once for a condo in Myrtle Beach, SC and the second time a house in Surfside Beach, SC.
The first time I was not sure what I was doing and now know the owner I was dealing with did not either. She offered no contract and I (like a dummy) sent her money without one. The rental turned out nice and we had a few minor problems, that she handled fairly quickly. The major one being the fact when we arrived the key holder on the front door did not have a key in it, so we had to wait about 45 min for them to arrive with a key.
My second rental was a house and way more money, but I researched more and found a wonderful owner who was very prepared and her contract was very clear and she provided all the info we needed. Had no problems, house was great and would love to stay there again!
Just need to do a little research on VRBO and inquire about several properties. When you find what you want, make sure they offer a contract showing what both parties are responsible for and the costs associated with the rental. Also, lots of pictures are key. You need to be able to see what you are renting. I asked both times for extra pictures and were gladly given them.
Just wanted to add that our first rental, I was dealing with a newbie to VRBO and it was her own condo where she had lived. She got married and moved in with her husband so they were using her condo as a rental, for the first time. So she was learning and I realized that, but not everyone is honest!