How stupid is it to buy in Cleveland in hopes of Appreciation?

[Wei Jie Yang]

I'm working with James Wise and Holton Wise's company right now to buy luxury property and make them into airbnbs. I've been running the numbers, and while some can't really cut it as an airbnb, some of these properties can kinda work as an LTR. Low COC% but they are in places like Tremont, Ohio City and Detroit Shoreway. Some of the nicer area's of Cleveland. How stupid am I being if I were to buy an expensive property in the hopes of appreciation there?