I was just reading this article on foreclosures. I would probably buy some if they were in different areas.
http://finance.yahoo.com/news/Radical-cheap-1000-cnnm-14005833.html
Pick 'em up cheap, repair, and then live in the slums!
Yeah, They aren't worth that. The taxes alone are more than the price. You couldn't even do urban farming on many of these lots.