You are correct, Steve, the owners are NOT ALLOWED to rent them.
Besides, there are HOA dues.
My wife and I stayed in one of those cabins in September 2007. My wife, whose co-worker knew the owner, allowed us to stay. Very nice place adjacent the Meysan Lakes TH.
The house was similar to this one only there were stairs and no ladder. "stairs" have treads that are narrow and the risers are very high without hand rails. You had to literally sidle up and down facing the wall. If you sleep in the loft and have to go to the bathroom downstairs, you had to be very careful or you could lose it on the way down.
And...
Remember the portal road closes and it can get nasty cold up there.
And look out for the bears if you don't bearproof your home. Mammoth is a perfect example.
All it takes is one good rockfall and then "sin loi" you out of a house, pal.
$125K ain't worth the price of admission for the Portal Area.
On the other hand, if that cabin were for sale here on the Westend say near Fish Camp or even Oakhurst, and for the same asking price (hah), then my wife and I would be all over it and our uncle, a real estate broker, will be busy earning his commission. A cabin like that here on the Westend could fetch $250k or greater. Negotiable, of course.