In my experience, MLS listed properties significantly under 100K in Raleigh are either a.) in very dicey parts of town, or b.) require MASSIVE remodeling investment.  

In my area, there are plenty of new homes and remodeled homes.  

Unless you have a lot of experience in remodeling/rehabbing, there may be issues lurking that you might not have noticed.  

Hi All,I'm remodeling my current residence (turning to a rental in the near future), and need some new kitchen cabinets.  

This area is a C neighborhood with cap rates around 1.5%.Purchase:  $62000Note:  $262/moIns:  $60/moTaxes: $170/moRepair savings fund:  $100/mo (see note)Rent:  $985/moThe seller had remodeled everything, so in the coming 5 years I don't see repairs/capx being any more than $100, though it'll increase after that as the new appliances age.

I spent another $50K to remodel this house.

Its not in the best shape but he has remodeled 2 units in the past 6 months with the 3rd unit being finished soon. 

Before that, I helped remodel 2 different properties start to finish mainly doing carpentry and finish work.  

I've remodeled a house next to a well maintained cemetery and it did take quite a bit longer to sell compared to other properties in the neighborhood.

I have met dozens of investors and my exploded my knowledge of rehabbing and remodeling homes.