Is buying a cheap home in Italy a good idea?

Is it really worth to buy a cheap home in Italy?

Jacopo Tartaglia of "ValenteItalianProperties" provides a Cost Breakdown.

It essentially comes down to where you buy and what is the condition of the property. In a thight market with high rents and even higher property values, renovation costs may significantly add to the value of the property. The flipside are foregone revenues during renovation. 

The cheap properties in Southern Italy usually also have low rents, but even lower property values. Consequently the renting yield is high, but renovating investments add less to the market value of the property than their costs. You should rather buy a property in a good condition, else you need to buy really cheap or obtain a property through inheritance.