It's also about understanding the market, having folks or a team there that can help you, and making sure it's viable for you personally.If this property checks those boxes, ignore anyone that downplays the returns not being high enough.

I currently have a large 1/1 with a ton of space in a highly desirable location in Chicago.

Make sure you carefully evaluate the credit quality of this tenant prior to leasing to them.

My local town I am in prices are way way to high. juat trying to snag my first buy and hold desl.  

It’s very efficient, high quality, customizable, and affordable.

I think in some markets ( like Hawaii that has sky high electric bills) it could.. others probably not.

Take a look at how far in advance people book for high season so you don't miss any lucrative bookings. 

Here in Colorado, for instance, to get a pure Airbnb investment property, you're looking a highly differentiated property -- you gotta be different to really crush the numbers. 

But I think prices have risen so high in the Phoenix area that it's kind of scary to jump in.

Example of one I have when I lived in a different state. bought from a highly distressed seller for 10k cash.