I am not even 100% sure about all of the factors that go into the NET rankings, but obviously the quality of wins and losses are major factors.

So, I was looking up where some of Chicago States opponents' rank and I noticed Tennessee State (254) is about 70 spots ahead of Chicago State (320).

Chicago 4-8 Average NET for wins is 267. Average NET loss is 188.
Tenn St 3-7 Average NET for wins is 318. Average NET loss is 264.

Average Chicago win is 51 spots higher. Average Chicago loss is 76 spots higher.

Only difference I see is Tennessee State has 2 road wins, average NET 301, to Chicago's one, NET 355. Home wins are Tennessee State 1 at 355, to Chicago States 3, NET average 236. I don't see either favoring TSU much.

Even factoring in margin of victory or loss, home/away etc, I can't help but feel that the NET doesn't really do a good job ranking some teams.

Its common for teams to be ranked below teams they have beaten, so that doesn't really factor in to my thinking. When examining these teams wins/losses it does puzzle me a little.