There can be some bargains, but you have to know what you’re getting into and probably putting in a lot of sweat equity too. The really cheap houses will typically be in a crappy neighborhood too.
That’s what I see here in the Cleveland market. Mostly folks flipping the old homes after fixing them up. Buy for under 100,00 and sell for half a million or more.
The neighborhood...? Quite sketchy. Over the summer I wondered if they’d be victims of the BLM tyranny groups.