So, if you buy an older home it's typically much cheaper, since you're not paying much for the structure. 

@Jules AtonWe have started marketing to our guests as it is cheaper to keep a customer than to find a new one.

Not realizing Owner Occupied Taxes are wayyy cheaper than Investor Property Taxes.

I personally focus more on appreciation, but if I wanted more cash flow I would definitely go to a fringe area and buy a new build rather than going to an older area and buying a cheaper property.

We have an investor running a special next month on 10% down second homes where the cost is 3-4 points cheaper than it would be, on a normal Fannie/Freddie loan. 

I finally switched PMs recently and the new one seems much better but Im still getting pretty frequent repairs though much cheaper than the previous PM.

If the law allows, I will sometimes move the personal items to storage, which is much cheaper than lost rent, so I can clean up the rental and find a new tenant.

I took into account a likely cheaper labor rate but will say when we owned units in gulf shores that i was not encountering that low of a labor rate.  

I know cheaper is not always better. 

Some cities like Atlanta, Charlotte, or parts of Texas offer cheaper homes with job opportunities nearby.If I were you, I'd focus on saving and researching markets that offer both affordability and growth.