Thinking about a buying in a sector I'm not used to, advice wanted.

[Keith White]

First to begin with just wanted to give a quick backstory about myself. I am a beginner flipper in Md and have only done houses in the first time home buyer price range for my area ( $130k-$160k). Due to the fact I have never approached a bank or looked into other means of funding (which will be a whole different topic i need to post about and get info) I have financed my flips with cash. So in doing this I am limited with the amount of money I can work with at a time. 

All of that being said I recently have been looking into a near by market that is filled with older Victorian homes that are in rough shape and in a prodomently rental filled area with few home owners. The area is desired because of the school district but the homes have been let go. I'm thinking about making a move on a couple of properties that are side by side, one is a corner lot the other has a empty field next to it. So If I could get both properties and renovated them they will be a little more isolated from the nearby homes. The ones I'm looking at I could get for around 30k a piece with needing roughly 25k a piece in renovation cost to get to where I would want them.  Looking at comps I do think they could bring in 80-90 once renovated. I am just not used to this price range as it is well below what I'm used to so the type of market I'm going for I'm unsure of.

My question is since this is an area that is prob 70-80% rentals if I were to renovate these homes most likely I'm going to have to try and make the, appeal to rental investors. Rent in the area goes for $800-$1000 a month. Would I be better off trying to flip them and then do the typical staging and hope either an investor or first time home buyer with a low budget offers on the house, or would I be better of to renovate then fill the homes with renters and then list the house for investors only with tenants all ready filling the homes with positive cash flow? Also if I were to do that I am not familiar with the rules as far as selling a house with tenants as I am new to this. Thank you for your time, Keith