First, as a realtor, we can't tell you where "safe" is! Savannah has pockets of transition areas throughout the city so your best bet is to do what I tell my clients...if you really like an area/neighborhood, drive around it at night and during the weekend. If you are comfortable with the area at those times, then you will feel safe. As for investment property, if you want to flip it in a few years, I'd suggest something with 1.5 - 2 baths. There are alot of bungalows that are 2/1 that are difficult to resell. The Historic District is a tough one when it comes to cash flow. The District is expensive, as are the taxes, so if you are looking for cash flow, I would look elsewhere like the Victorian District or Ardsley Park. The rental market is strong here - with the great hospitals (new doctors and staff), Gulfstream (engineers, etc) and the Savannah College of Art & Design students and faculty, there is always a need for good rentals. Rule of thumb downtown is about $500-$600 per bedroom for SCAD kids. Savannah has slowed but is a Destination so people are still coming to enjoy our amazing city and lifestyle. I would love to help you find just the right investment property... they are ALL OVER the city!