We present the \epsilon-outage capacity of incremental relaying at low signal-to-noise ratios (SNR) in a wireless cooperative network with slow Rayleigh fading channels. The relay performs decode-and-forward and repetition coding is employed in the network, which is optimal in the low SNR regime. We derive an expression on the optimal relay location that maximizes the \epsilon-outage capacity. It is shown that this location is independent of the outage probability and SNR but only depends on the channel conditions represented by a path-loss factor. We compare our results to the \epsilon-outage capacity of the cut-set bound and demonstrate that the ratio between the \epsilon-outage capacity of incremental relaying and the cut-set bound lies within 1/\sqrt{2} and 1. Furthermore, we derive lower bounds on the \epsilon-outage capacity for the case of K relays.