Some can actually be pretty cheap.

A lot of out of state investors see super cheap houses on Zillow and don't look at why they are so cheap.

While they might not be the cheapest - no HM lender is "cheap" - they do a good job at what they do.

Example: If a business buys an oven and it costs $5,000, and $1,000 for installation and setup, and $200 of delivery and transport fee. 

My neighbor has listed his but also has had occupancy issues as an STR and said that most people looking for either rooms or cheap stays but I can't comment on that as I have no experience listing as an MTR.

Little background behind the door: It's a MDF cheap one you buy at HD or Lowes. 

You should look at very cheap cost-per-a-door markets like Cleveland and Dayton where you can find stuff $40-60k/door.

I included a link below to your state's association with all the requirement info.Keep in mind that getting into Real Estate is not a cheap adventure. 

As per the TK provider business model, property was bought cheap and rehab done (work provided).

Selling gets a tax free gain and allows you to be more liquid; keeping it allows you to have once in a lifetime cheap debt and have that leverage on an appreciating asset.