New to real estate investing

[Taylor Petersen]

Hi everyone, 

I am new to real estate investing or even the workforce for a couple of years. I will be graduating from dental school in May and I have accepted a job in Oklahoma. I am happy that in Oklahoma it is cheap to buy real estate but when looking ahead to where we are going to be living, I can see homes for the cost of 60k to 120k with average rents in the area of 900-1300 a month. That exceeds the 1% rule but my question is, is it bad to buy cheap real estate that cash flows high or better to buy more expensive real estate that cash flows low? (For the purpose of tax benefits and appreciation) 

They are a little older homes and in maybe a less desirable part of town.