I am very familiar with the Rosegood Subdivision which encompasses Grant Way and Grant Terrace. This has always been a strong investor neighborhood and I know four investors personally that have bought, renovated and either lived or rented in this Subdivision. Most of the Investors/Home Owners owe roughly $150k on these homes that are now worth anywhere from $40k to $60k. There are quite a few that could be purchased through Short Sale or from the Bank Owned Inventory... there are also a few that will be going to Foreclosure Auction in the very near future.
Two of the investors are currently renting their investment property through the Atlanta Housing Authority (Section 8) for $1,100/Month. If you can pick up one of these properties anywhere in range I mentioned above you can get great cash flow. I have the Tax Map of the Neighborhood highlighted with the status of every home and the name of every Home Owner and their current status. I have met nearly every Home Owner so I have a good feel for each situation.
If you would like to set-up a meeting at my office, I would be happy to share the information with you.
P.S. Due to Federal Laws, Realtors are not at liberty to discuss crime statistics, etc. You can obviously research this information through the Internet starting with the City of Atlanta Police Department or the respective County.