This is why you look in the bargain bins - bank repos, seizures for back taxes,,,, stuff like that.
The town where I live, someone bought an empty lot, poured a slab, then moved two junk looking homes onto the slab. The homes were put together, then roofed over to make it look like a single house, instead of 2 houses put together. The entire outside was redone to make the house look new.
If you look in the paper, sometimes there are "to be moved" houses that can be picked up for a few thousand. By the time your finished, you might have $10,000 invested into the house and to get it moved. Another few thousand to fix it up. Then you have rental property bringing in $500+ a month on a $20,000 investment.
Prices are just a rough estimate.
I know a guy that is selling a single wide trailer house for $5,000. Rental income could be around $350 or $400a month for this area on that $5,000 investment.