When first starting out using a Buy and Hold strategy and with limited capital, do you think it's better to purchase a bunch of lower priced properties in lower quality / depressed areas or spend a little bit more but have less quantity or rentals (but presumably higher quality tenants) for properties in an area that is well known for being a "good" area?

This situation is why I don't like the rent by room model and wouldn't use it myself, but some people are very successful at running harmonious co-living arrangements. 

Quote from @Arsen Atanasovski: Hello Sunny,All honesty Bethune is a class D even the outskirts of Bethune are all C/D, Harmony, Fitzgerald, shoolcraft, Hubbell and Schulze.

It will take a lot of calls, but it should pay off if done in large quantities, consistently.

you could look for opportunities with reverse mortgages in default (backwards marketing) and tax defaulted property (the last group can be difficult to sift and sort due to large quantities).In the end, you’ll do much better focusing on solving problems that others cannot or are not willing to solve (hoarding, squatters, liquidity, defective title, skips, etc.).BTW, I started with working foreclosures (1978) and then deceased owner and title-impaired property about (35) years ago and have closed several thousand deals to date.  

I also have one in Bethany Beach and Lake Harmony, PA.  

Quality over quantity!

Its quality over quantity. 

Buy quality, not quantity.  

Remember - it s not about the quantity of properties you have, it is about the quality.