What happens if I buy one or more incredibly cheap houses in Detroit?
July 28, 2013 6:07 PM Subscribe
I just read an article about the real estate market in Detroit and they linked to a number of houses that were for sale for less than $500. Some of them have just preposterous asking prices -- like a 3 bedroom house for $39. I know nothing about real estate and tax statuses, etc. What would happen if I were to buy, say 1-3 houses that cost no more than $200 apiece? What would be the downsides of doing something like this? I wouldn't plan on living in them, I'd just own them.