Then you can collect monthly checks and not deal with clogged toilets.

If you do plan to flip in that price range you're going to need an intimate knowledge of the area, demand drivers, and how to remodel these older homes efficiently. 

We've had it done on several homes that we fully remodeled that had the old prices and pictures.

I went to this "Remodelers Outlet" store in Fall River MA, and they offer cabinets from a brand called Wolf.  

This will get you experience in remodels and much lower down side than a normal flip because you are literally living in the house (so you know exactly what is going on and 0 travel time) and you are utilizing a low down payment, low rate program like a VA loan.

Updates include new upstairs flooring, kitchen counters/sink, bathroom vanities/toilets, and fresh paint.

I will definitely be looking into this one the remodeling completes.

We purchased another house and are finishing remodeling it and have about 20k left to spend to finish and move it (cabinets and countertops) and this will be our primary residence.  

Something that is a new build or recently fully remodeled you can get by with a lower number.

I have an FHA on my rental, and will be rolling my current rehab to a VA loan upon completion of the remodel.