I know of a few guys here that have commuted back and forth. Most of them kept it close to home though so that the jumping would be easier and if they had to they could drive in a reasonable amount of time. It can be done, but like all other airlines, the flight department doesn't take "I couldn't get on the flight," as an excusable reason to not be in station at your expected time.
As an example, one guy lived in St. Louis area and was based out of Memphis. He kept a pad in town for his schedule mon-thur, and then would jump home friday morning after he was done for the week. The short distance between STL and MEM allowed him to drive if he couldn't get on any flight to his base, or even home at times, i think it was something like a 4 hour drive which is kind of reasonable, but not something to do every day.
Other than that, i would recommend living at base unless there is just no possible way to do it. Airnet provides all moving cost reimbursement, along with 7 nights hotel and 7 days per diem while completing your move. This kind of helps to relieve some of the moving pressure if that is what is holding someone back.
