Agree. However, I wasn't talking about 40k homes here, but about $1,000 homes in risky neighborhoods, with the obligation to renovate to code, potentially costing ten thousands of dollars in the process.

There's a reason why the value op the property, including home and land, cratered to $500 or a few thousand dollars. It's the state of the neighborhood that dictates the value and it can change rapidly, faster than in regular neighborhoods.

It's not an investment I would recommended for inexperienced investors or people with limited savings who put all eggs in one basket. And sadly, the low prices attract quite a few of them.