As everyone said "fixer upper" can mean virtually anything. It's best to look at the property to determine exactly what they mean.
Karen Paytas, GRI, CMS
Real Living Kee Realty
A fixer-uper for $375.00 most likely needs a LOT of work. It is the polite way to say 'it's a dump". Each "fixer-upper" is a bit different, but it could be anything from a roof to issues with the foundation to everything in between. I would suggest you schedule an appointment and go look at the property and see for yourself just for curiousity.
It could be a good learning experience for you.
Kathy Persha, Associate Broker
GRI, CDPE, SFR, CIAS
Keller Williams Realty