Can build a house under $20000?

sorry but the answer is no. First I'd be asking why the house you plan to sell would be worth so little, or haven't you owned it over 10 years yet?

The cheapest thing you could get are 2 mobile homes at a cost of about $50,000 apiece and then you'd pay rent for the land they sit on. Each mobile home may house 3 people. Or you "might" depending on the cost of land where you are, you might be able to buy two plots of land that already have old mobile homes on them and then replace those mobile homes with new mobile homes. You'd need to make sure there is city water available. As time goes on you could, with permission of the city and building permits, build a home on the back of the mobile home. Each piece of land that you purchase (in the country) "could" cost maybe $50,000 to a lot more so maybe you could rent a mobile home for now.

Construction cost for a entry level home with low quality materials cost close to $150 per square foot. The building lot will cost $80,000 to $100,000.

Not in the U.S. assuming you want a bathroom or two, maybe three bedrooms, a kitchen and a place to eat. You are looking at a minimum of 900 to 1,000 square feet (barely enough room to change your mind) at a bare minimum of $75 a square foot somewhere out in the country using the cheapest materials possible...so figure $50,000 to $75,000 not including the land.

Construction costs are about $200 per square foot in major metropolitan areas, so that will get you a 100 square foot house.

Sure you can however your going to be doing all the construction yourself. You can find good used material for low coast and even free. Windows, cabinets, so on even wood. Now as far as permits that can be costly depending on where you live. Check out small house web site.

You have to have lived in the house for at least 2 years as the prinicpal residence to avoid capital gains. As an individual you can make up to $125k or $250k married, and avoid capital gains ONLY if you lived there 2 years.

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Sure....something along the lines of the Unibomber cabin! A decent kitchen alone costs $20k to build from scratch!

The foundation alone is going to cost you a LOT more then that.

$20,000.00 isn't even enough to buy the landlord for the house to sit on.