The market for gaming consoles is too crowded to make any money. All of the people that you see selling those items are buying in extremely large quantities, such as $20,000-$100,000 at a time. They do this because when they purchase in such large quantities they only have to make a very small profit on each console..
With an investment of only $800-1000, you will not even be able to purchase the units at the price the other sellers are selling their units for...
Probably with that size investment, you might want to look at buying some liquidation lots and start by selling those..That way your initial cost would be low and you could in turn make a decent mark-up on them and sell those items for a nice profit...Try some sites like liquidation.com, surplus.net and sites that specialize in liquidations, close-outs,surplus goods and things of that nature..