Atlanta, Georgia - thoughts on transitional neighborhoods ITP

[Michael Ehmann]

For all my ITP (inside the perimeter) Atlanta investors, what are everyone's perspectives on the transitional neighborhoods in Atlanta, particularly those on the West side of town? 

I have done some driving the past few weekends to check out some potential properties I've found online (side note - glad I did because it gave me a much better perspective on the properties and neighborhoods. Things that looked great in the pictures often became significantly less appealing in person...). Here are my observations on a few sub-markets.

Florida Heights - pretty "transitional", but there also seems to be a decent amount of investor activity. A lot of homes I've been watching get snatched up within 1-2 weeks, sometimes even just a few days. 

Pittsburgh - drove by their yesterday, and it was pretty rough. Definitely not somewhere I would feel safe living or visiting after dark. There seem to be some renovations going on in the area, but not nearly as many as the other transitional neighborhoods I've been to. I'm wondering if it's a little early in the transitioning stages for most investors? For the house I was looking at, even if I rehabbed it, I'm worried there may not be sufficient demand yet to flip it or rent it out at a price that makes the cash flow work. 

Ashview Heights - looks like there are several active renovations going on. Seems to be a little more mature in its transition than Florida Heights or Pittsburgh. 

Peoplestown / Reynoldstown / etc. - I feel like these markets on the East side are pretty saturated and inflated. There are still deals here, but they may be harder to find. 

What are everyone else's thoughts on different transitional sub-markets in Atlanta? Any perspectives on places you think are hot now, oversaturated, or which may become good opportunities in the near future as the city continues to transition?