With very few exceptions, you can expect homes priced well below market to be in need of a good deal of work.
Unless you are paying cash or using a 203k type of loan, it has become very difficult nowadays to finance such homes.
If you haven't talked to a lender yet, feel free to contact me for a list of lenders that I feel work hard for their clients.
If you need some direction, I can do that too.
Thanks for asking!