Its unreal how the prices of houses are so cheap in Detroit.  You can find a wide variety of property for under $10,000 USD that is in pretty good shape.  Some can even be had for several hundred dollars.  Supposedly this kind of thing is happening in a few other US cities as well (like Cleveland).  This may be worth following for investment purposes.
 
http://www.homes.com/For-Sale/MI/DETROIT/minprice=1&maxprice=10000