Is now a good time to buy a property to be operated as an Airbnb in Rockford?

The investors who are preparing to buy their first property and don't have two pennies to rub together wanting to spend thousands on complexed entity formation for asset protection purposes. 

also no.I'm going to go buy some VTI

@Daryn Dockter it’s not worthless if you plan to buy another property at sale.

These factors didn't keep me from buying though, while watching some other small markets in the region where average nightly rents were sometimes higher. 

I'm buying all cash, no loan.

In fact, its so competitive in trying to buy a SFR owner financed note, that most note investors have gravitated to buying non performing, under performing or re performing notes from banking institutions, or the asset disposition firms that represent them.  

Would you buy a home here for $800k for this strategy? 

Im located in Phx,Az and its common here to still see empty dirt land in prime areas of city, as an example, my father who knows next to nothing about real estate purchased a 7k sqft gated dirt land  in the city 3yrs ...

I'm looking into starting off into real estate investing with my partner and have been looking into the Milwaukee area with a buy and hold strategy in mind.