Nice dive into the reality of the $1 homes. Actually they are available in more places than just Italy, in Europe. I think even the price tag of $76,000 you estimate is optimistic because we never know how clean or corrupt the local authorities in such places are. The hidden costs are usually in the "administrative costs" to be paid to the municipality, the City offices, "fees" for building permits. An interesting proposition would be if there are real estate companies who would service all the administrative details and manage the process for you for a fee. Let me know if you find one! I'd be keen :)