Do you buy cheaper property that you can pay off faster or...

[Peter Kim]

So currently the market I'm in, homes sell for an average price of 250K and range from 200K to 300K. I don't plan to sell any of my investment properties and plan to hold and rent as long as I can. That being said, I was wondering if I should buy a 200-250K home (that I can pay off quicker) or buy a 300K home?

My thought process is to see the rent rate for other homes near the area, see which house profits more after mortgage, figure out the average pay-off date, and go from there.

Sorry in advance if this post is a little messy, if anyone can point me to an article or provide insight on what strategy works best please let me know!

PS: The reason why I'm even contemplating this is that the first house I bought for 156K ($800/mo for the mortgage) is renting for $1,620 so I know there is more cash flow opportunity from cheaper homes. 

[Curtis Mears]

I try to buy the cheaper home in the nicer neighborhood. This is true even for personal properties.