If a house is $10,000 there is something VERY wrong with the property...location, condition or both.
Talk to an agent. Ask about the area, if it is high crime you may want to reconsider owning the property even as a rental.
Can you purchase it for cash? Financing a fixer upper isn't impossible, but it is difficult. Talk to a lender, which could be a bank or someone who can privately lend you the funds.
IF the area is good then it must need repair. Set up a showing (if you are not familiar with construction cost, bring someone who is). If the repair cost is less than or equal to the going rate for homes in the area buy that baby and watch the awesome transformation!