In California outside of San Jose you could get fantastic suburb housing for 50-85k. My parents and a few others went in on purchasing a group of homes in the same subdivision. They take turns vacationing there for a month or so to look after the property(s). They were able to get fantastic financing for these homes that just sit empty.
They all have an agreement that once the investment doubles, they will sell. Also alot of counties in California have a 70% deferable tax policy for homes that are sitting empty.
I wish I had that kind of cash. Gots to love older folks who didnt trust the stock market and kept there money in GICs and Canada Savings bonds
FYI, dont own the investment homes as a person, create a corp for tax deferrals.