A lot of bank repos are being sold off like this.
We bought one in Payson AZ as a vacation home in the forest. (We’re in it this week.) It wasn’t really distressed, but there were enough problems that the bank didn’t want to fuss with inspections. There was a deck which was hazardous, new carpet REQUIRED (thanks cats!), and a dilapidated front staircase. Several people who made offers had actually backed out once they got estimates for repairs. Because of the condition we got it at 50% of the Zillow price and we were elated.
On the other hand, I used retirement funds knowing that I can always get my money back or retreat from the big city as required.
Thats what I did, right off the courthouse steps, for much less money than the average car price. Cash. I'm not rich by any means, just happen to have the amount in an account that I had accumulated for 20 years, dipped into that to buy the place. Took a lot of hard work, time, and a bit of money, but its home now.