I'm not really a flipper but you first need to price everything out.
Bar tape, tires, chain, cables, pads. And decide if you will be able to get your money back from that investment? Where I live a broken "project bike" sub $200 cdn will sell all day long. Where as a tuned up vintage $400-$600 cdn bike might take months. Most guys I know will wash/polish what's there and sell it as is. But other places might be different.