It is a fact of life that hirers won't treat it like your own. They will scratch the windows, scratch the LCD's on your avidyne/g1000, scuff the paint, wreck the door trimming, bang the fuel fuller on the wing, run-up on stones, leave it 200 miles from home in bad weather and not return it, etc, etc.

If you want a showpiece aircraft, don't put it online.

If you don't mind your machine looking like a bit of a s-hitter, then go ahead and put it online.

As to whether you make money out of it is totally dependent on the water tightness of your contract with the hirer, nothing more, nothing less.

People have been doing this forever. The smart ones make money, the other ones don't. Flying schools have a habit of finding the not-so-smart aircraft owners.

PS: Current "going" rate for a clapped out 172 dry hire down south is around $90 airswitch.

Always a risky business, in my humble opinion.
It depends a lot on the flying school and the CFI and in turn the instructors and people hiring it. Some CFI's promise you lots of hours, but in actual fact the aircraft does very little flying, some organisations are very slow paying you. A mutual friend had a nice C182 on line at a club, but the CFI and instructors were pretty slack and over six months he had a hefty bill for repairs after somebody had flown with the seat belt hanging out the RHS door, a prop strike, a **** that let it roll down a slight incline and crash tail first into a fence smashing the rudder and creasing the tailplane. All for a bit over 100 hours of private hire, gentleman decided it was better of being sold.

Plankbenders numbers are about right, for an Archer - much sturdier aircraft than a 172.
If you think you can make money from putting an aircraft on line at a far away location then forget it - unless the aircraft is doing over 500 hrs per year, and it's new.
If you are on the same location as the club/outfit with your aircraft on cross hire, you can keep up with the small 'wear and tear' items that left unattended, will lead to BIG bills.
All you will achieve, in any event, is reduced flying costs of your own, subsidised by the legit tax deductions - may need to go to Oshkosh to look at/purchase spare parts etc. Check with your accountant for the finer details.
In 20 years of renting my Archer to the local club - I have enjoyed seeing the satisfaction on the pilot's faces after having flown the aircraft, which I keep in as new condition as I can.
I repeat that you cannot do this if you are not with the aircraft, and have no mechanical aptitude. A good relationship with the maint. shop is a must. You cannot take shortcuts.
In addition, people pay good money to hire your aircraft. I have seen heaps of ****ters, basically wrecks, and the owners complain when things fall off, maintenance goes thru the roof, and customers don't want to fly it any more - these people need to get out of aircraft and invest in Storm financial to get a better return on their money.
You give a tidy, clean, well maintained and equipped aircraft to a hirer, and most of them will treat it kindly.