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I heard great things about the place as well. I've never been to South East Asia so cannot help you out unfortunately, but it's worth to go there if you can!

It's only cheap if you live more like a local though, so let that be known.
If you go and live in the nomad communities it's easily $1000+ month if not double that.
But you can live easily on $200-300 or even less if you don't mind not living in a posh super-new clean place with a pool and gym.