One of the things I'm trying to figure out is if I'm better off getting a few lower cost properties or on higher priced property. 

Lower returns are an issue as well. 

My kids and extended family are in the lower 48 so I don't mind excuses to get down there- and the sun too! 

I would tell people today that if you buy a primary residence expect to stay in that home for atleast five years, especially with a FHA loan which has lower down payment as the current forecasts for home appreciation or very low which with closing costs on the buy and sell, it will take several years to have equity in the property and enough to be able to sell, so that is something also to consider.

There's a lot of suckers who attend these sales, particularly for the lower priced properties and that's precisely who you don't want to be bidding against.

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

As you know, marketing and price are both very important, and vacancy will significantly impact your income, so you are almost always better off charging a lower price and getting it filled with a good tenant.  

I've had smooth loans close with Kiavi and I've had rough ones, same with Roc.When Loans start to be troublesome:1) The borrowing entity docs are a mess2) The appraisal numbers are lower than expected3) Messy background reports4) Loans happening in an environment where market/rate fluctuating unpredictably 5) Your loan officer and their team are poor at their job6) Title issues that depend on county docs, that can be slow and painfulThere's more but it's Friday and I'm tired....

Meanwhile, the adjacent property with a view of an industrial park will consistently get lower rents. 

Quote from @Melanie Baldridge: Why I like investing in real estate more than 401(k)s.Both offer tax deferrals, but here's the difference:If you're making pre-tax contributions to your 401(k), then withdrawals = ordinary income tax.With real estate gains, you're paying capital gains tax (which is typically lower).Plus, RE investors get:1.