The Homestead Craftsman, who mostly builds furniture for a living, has started buying and fixing up old houses. A place like this would be a good starter home in the right location. On a homestead you could live in it while you build your dream natural home out of more sustainable materials.
“I paid $5,000 for my first house with the goal of renting it, spent a little money getting it renovated and rented it two times which more than paid for what I have in it. Now I’m getting it ready to sell. This video shows it’s current condition and talks a little about what I’m going to do to it. I’ll post more on the house soonish.”
YouTube
Other videos by The Homestead Craftsman:
Building a Tiny House
Making a Farm Table with Salvaged Wood
You’re almost guaranteed a profit if you can buy homes like this for so little money and you do the work yourself. I knew someone who used to remodel and rent old houses and they made a lot of money.