I like playing as West Brom personally. Like you, I usually sell a lot of the older and out-of-shape sqaud members and bring in either big names or young exciting players with the money from the sales.
However, if it is definitely the Premier League you want to manage a side in. You can ask around anyone who watches the EPL and they'll say one of the teams in most need of a renovation would be Liverpool. With key players aging out such as Gerrard/Carragher, and important positions filled with underwhelming players for the past couple of seasons i.e Downing, (imo) Henderson and perhaps a few others.
You can sell some of the players that don't quite perform for a healthy sum, and completely renovate the team. The same can be done with Chelsea, however, attacking-wise they've already got a strong set up for the next few years.
Both of these teams also allow you to dive straight in and start selling players as neither of these have really signed anyone in the past season that you'd want to get rid of desperately. Unless of course, you support Swansea and despise players like Joe Allen.