I'm currently doing a santos save, it's fun to try out the brazilian league after being bored with europe. I'd definately recommend santos as they're actually predicted to finish 10th (though realistically you'd finish much higher). I won the league in my first season, and although I also "won" the sao paulo state, I lost in the playoff that decides the trophy. Even though the brazilian league isn't of the standard of top european ones, it's really competitive and atleast 5 teams could win the league each season.
It's a long hard season though, with 2 leagues to play, the brazilian cup, and a continental one. At one point I had 4 games in 7 days! It's also pretty tough financially at first, losing money every month since attendances are low. In my second season I only got a transfer budget of 500k again, so you have to sell to buy - or rely on your youth system which pumps out stars constantly.
There is definately a lot of deadwood in the reserves that can give you a nice transfer budget. I bought manoel, rafael toloi, romario (the 16 y/o RB), Josue amongst others from funds raised, and only have 2 players currently over 25 years old.