And in areas where there are cheap multifamily lots, well...let's just say that you might be able to buy a home that's already built far cheaper.  

I'm trying to make some preliminary decisions on where to buy and hold, and here are my options:Invest in current city, lived in area 10 years, expensive, but have awareness of jobs, neighborhoods, etc.Invest in childhood state, lived there 20 years, cheaper, comfortable to meInvest in a location I want to live in, no experience, must learn entire marketI would imagine many people are/have been in a similar timeline in their lives.

Depending on the property type (ie. single family, 2-4 family, etc.) there could be ones that are cheaper by themselves.

However, I can do it cheaper than they can and don't see the value based on what I've been paying them for. 

May be cheaper than buying a window AC - or other remedy.

So that's my question, would you rather go after a cheaper 20-unit that takes more selling, more maintenance, and more marketing but is an overall safer bet, or fix and rent a nice single family home but risk overpaying or having your only unit vacant too long.

I am sure Dan that you can get some cheaper assistance if you leverage Mark & Chris.Best of luck buddy!

Depending upon what you find, and other factors, it might be cheaper and easier to just replace the slab area with a traditional wood floor joist system and plywood.

For the record, my guys and I are not too shabby at installing and finishing hardwood in place ourselves, but for rentals, we tend to stick with $2.99/ft2 plain-sawn No. 1 red oak on sale and three coats of oil-based poly at $100 per five-gallon can.But even if I could get the kind of ultra-high end oak flooring Joshua's talking about cheaper than PEI 5 impervious tile, I would still do the tile in kitchens and bathrooms.

Current monocrystalline modules if installer right are aesthetically pleasing and are significantly cheaper as well as much much more efficient.