If you are a contractor or plumber or electrician it's possible to find homes that need updating and if doing that will increase the value and saleability and if you can do the work yourself in a timely manner and have good credit and income and some money for the down payment, you can do very well! The one thing to avoid is having the home empty, so while you are fixing it up or before you shouldj arrange to have it sold or rented. It wouldn't be a bad idea to have the advice of a real estate agent from the get-go (not necessarily the one trying to sell you the property as they may have a conflict of interest. Sometimes an owner might give you an option or go partners. Just make sure your investment is wise, legal and insured!