Advice on Macon Georgia market

[Murray Cronia]

Me and a couple of friends had the idea of investing in property in Macon, specifically in close radius to Mercer University. As far as cities around me go, most property is dirt cheap there, but was built in the 1900's. Ex. A 5 bed 3 bath Victorian for 50,000 in prime location or 2 bed 1 baths for 10,000. (fix and flips, of course.) I can't tell whether you'd be making a fair amount of money flipping century old houses, or digging a very deep trench for yourself. Would it be wise to invest here? Does anyone know the market well enough to offer advice?