How big is the loan you are going to to take of the extension?

Sign a 3 year extension right now for $250 / M increaseLet them decideNegotiate with the seller accordingly.

-If you are decide you are okay paying top market money then MAKE SURE that the rehab is as extensive as possible. 

All these methods have been discussed extensively here in BP.

Just graduated from college a year ago so I'm building my savings to be able to take on some of these projects, just not there yet for some of the more extensive rehabs.

From my extensive reading this is a VERY common mistake new investors make...myself included.

My wife Brenda and I did an extensive amount of work on our first house which turned into a huge project and found out that this is something we like to do. 

In my case it was not a big job, just an extension, fixing a wall and electricity.

Thanks for all your inputDefinitely not looking to buy anything that needs extensive renos, but not afraid of a bit of paint or wallpaper

Since I live in Raleigh, I do not know much about the area and I'm hoping to find a connection to discuss the area that these properties are located.  2 of the homes are currently rented and the other is probably going to need extensive work or tear down.