Houses under 1,000 ?

http://local.botw.org/articles/Houses-Under-A-Grand.html
I found this to be extremely interesting and relative to a discussion that we had in class this week. In class we talked about why somebody would want to buy a house that is cheap and run down in a market that may be rising. The reason somebody would do this is because if they buy the house for cheap and fix it up just enough that it is maintained and suitable to live in, they can rent the house. If the area starts to grow, the houses that have been fixed up will be filled with tenants and the person who bought the house for cheap will start to make a profit off of the house. All of the houses shown are under $1,000 and the funny thing is that they are all in places that are pretty well known. I have heard of all of the towns and areas that are mention on this site. This means that the area must be pretty built up and that there is definitely an opportunity for profit if people buy these places and then rent them out. I know this is a short blog but the link attached is more of what I wanted to focus on.