Actually, that's not too far off what you would get by putting 100k in a five year CD, with virtually no risk.
As a landlord, you make money on the property (hopefully) when it comes time to sell, but also through rent. The problem is, after property taxes, maint, and other misc costs, are you really that much ahead of the game? When you factor in the time and effort, I'm guessing no. Mostly because the market around here won't support rents much above the 700 range. I could be way off, but that's why I'm doing the research and asking questions.
I've considered doing some flipping, but again, the reason so many of these places are cheap is not necesarily the structure, but the market.
Fortunately, I don't have the loot in my hot little hand yet, so I have time to do as much research as possible to find the right combination of ROI, risk, and effort/time.