When Woody and Chuck can't make the rent on the beach house, they con Ellenhorn into going in with the promise of a quiet, peaceful stay with only the three of them. But before they realize it, three beautiful beach bunnies and then a bunch of freeloading musicians insinuate themselves into the crowded shack. When Ellenhorn arrives, they try to hide their new roommates.
In the park, Woody and Chuck mistake a mugger for a victim, and try to fight a cop trying to arrest the crook. They are set free after a trial, but the holdup man, now on the lam, comes to the apartment and has the hapless duo, and soon, one by one, all their visitors, held at gunpoint.
Woody and Chuck have an unexpected new tenant, a young blonde that cons them into staying rent free in Ellenhorn's apartment while he's on a picture assignment.. But he gets back sooner than the boys expect, so they talk him into moving in with them. Unfortunately, they are incompatible room mates with the fussy photographer.
Woody and Chuck's new tenant is Emile Kucheck, a famous high-wire acrobat from Czechoslovakia. While he's away at a performance upstate, the boys must look after Mrs. Kucheck, who's very pregnant, and doesn't speak English. Problems mount when they must take her to the hospital when the delivery becomes imminent.