I need help in determining local market strength

[And62002]

Hello - My wife and I are looking at purchasing a stunning home in a very popular summer vacation area.  The home is just off of Delavan Lake, WI which is right next door to Lake Geneva, WI.  This is the summer playground for people living in the greater Chicago area.  The home has 5 bedrooms, 3 baths, a huge kitchen and could EASILY accommodate 14 guests.  The lake is across the street, a major gold resort is around the corner and there are bars and restaurants within walking distance.  Our struggle is in determining just how frequently a house of this size would be rented?  Others in the area are getting up to $800 (for a small lakefront cottage) but we have no way of seeing just how often it, and others in the area are being rented.  Is there a way to get a better handle on potential rentability for a home that is a true stunner and could handle really large groups?  Thanks.

[Emily487]

@And62002 

My advice:

Talk to your Realtor, talk to the owners/management companies of the other local rentals, but never assume you can make enough money renting it out to pay the mortgage.

[Maia29]

The markets are getting very saturated everywhere. I would be extremely cautious in proceeding without doing all of the market research for that area.