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What are some things you can/should cheap out on?
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I don't think that off-ease laptops are very good as they are sold. The batteries are often on their way out and so that's an additional expense (and some, like Macs, are very expensive to replace).
There are some incredible deals on off-lease desktops, though. Most modern computers are way overpowered for what the average user needs. You can get a perfectly serviceable machine for doing email, serving the web, and office work, for $100 or less. Just don't expect to play any games released within the last five or more years.
My off lease laptop is literally my three year old work laptop. It is a very sturdy HP laptop with 16 GB of ramm, a 512mb SSD and a pretty decent i7 processor. The body is very sturdy and the screen is excellent. I paid about 180 dollars for it.