I can buy cheaper than it is to build, will this make me wealthy?

[Jonathan R.]

Hi BP community. I am having a great time in Wichita, KS in my first year and a half to two years of investing; we have taken an aggressive approach by investing in a low income high crime area near downtown Wichita. My question is- if I am buying houses for cheaper than it costs to build a similar home, can I reasonably believe/state that one day the property will appreciate, substantially. Even in a D or F area, everything will appreciate by the time my kids get it. Right? Buy enough of these properties, my kiddos will be swimming in gold coins like Scrooge McDuck in the cartoon with all the other landlords. To clarify, I am stating that every single peice of real estate will appreciate in 20 years plus if bought for a price under the cost to build a similar home and maintained well. The folks saying do not bet on appreciation are wrong or are only talking about a time less than 20 plus years for holding a rental property. Am I missing something?