How much weight do you give to the cash flow benefit of cheap debt when the property is priced above market?

I was told by a local experienced investor that insurance companies will always go cheap with paying out to contractors in the event a property needs to be rebuilt. 

I don't think the future will be kind to the investors who bought cheap houses in a big community of other investors. 

Saul, Phoenix and Vegas are popular markets, but I’m not sure they’ll actually cash flow well with today’s prices and interest rates.

Maintenance is one of the biggest challenges, maybe even #1, in the Property Management industry.Seems maintenance is, Never Fast Enough for Tenants, or Cheap Enough for Owners!

.: Quote from @JD Martin: The 1% "rule" is just about dead everywhere outside of the midwest and some places in the south that are still relatively cheap.

Generic replacement parts that fit American Standard can be found anywhere.Don't buy the cheap $90 toilets.

Quote from @Dinesh Nair: I am a Canadian investor with a US corporate entity- we closed on our first property and now working to find financing through a lender… however rates keep changing all the time.. is there a site to track rates ? 

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

How much weight do you give to the cash flow benefit of cheap debt when the property is priced above market?