Pensacola, FLProperties are pretty cheap.

Because so much real estate in the US or Canada wouldn't be profitable without ultra low interest rate (as many investors are discovering lately), we are obsessed with getting cheap financing.

Unless you have some sort of subject matter expertise or access to an unfair advantage (cheap labor, ways to source off market deals, etc.), index funds are likely to provide an equal or better return with a MUCH lower hassle factor and more liquidity.

It might seem like a kindness to provide a printer to a traveling professional, but until they invent one that works on every device, every time; that doesn't need paper at two in the morning; and has cheap toner that refills itself, we will pass on that amenity.I am sure there are other examples for all 4 quadrants, but like @Allen Duan wrote the important thing is to look at amentities through the lens of the end user (with an eye towards the "competition").

Upon visiting the house, I found everything to be cheap and poorly done.

To believe the benefit of cheap labor comes without consequences is absurd.

Easy to screen, setup leases (I do my own), and collect rent for very cheap fees. 

Ours is dirt cheap AND not fluff.

Along with that you purchased at a decent price, cheap rates so your mortgage should not be expensive.

But if your looking to cash flow like $500 or more per month you might want to look into more cost effective markets where you can purchase a property very cheap and the rents will give you that type of cash flow your looking for.