Max Age for Buy and Hold Properties?

[Troy P.]

After reading (and thoroughly enjoying) HOLD: How to Find, Buy, and Rent Houses for Wealth, one of my takeaways from the material was a quote from a long-time investor that says he only purchases 4 bedroom single family homes that are less than 10 years old.  My question is if anyone else has similar age restrictions on a property you're going to hold long-term?  Have you seen value in starting in the 10-15 year old range because of fewer maintenance costs?  Does that eventually pay off?  In my area, the market is saturated with homes from the 80s and 90s making it very difficult to find a good deal on anything newer.  What is your experience?