From my neighborhood, I can walk to a starbucks, a cuban restaurant, a bar with a good pool table, a good mexican restaurant, pizza shop.

We have never had such trouble with tenants and neighborhood as you describe! 

One metric that I look at is the ARV compared to the neighborhood values.

The crime rate there is low compared to downtown Chattanooga, but I'm not sure if Red Bank is an up-and-coming neighborhood, an established neighborhood, or a place people are fleeing.

The neighborhood will really dictate what you can get, both as a purchase and rent.

This could be where you already have a rental, where you have some family or friends that know neighborhoods, or just where the numbers look great.

What neighborhoods do you want to investing?

If you're in a "not so great/hasn't transitioned yet" neighborhood, section 8 is the right choice. 

Simply, there's not a ton of deals here that I'd be able to get a loan for (mostly based on my income rather than down payment) and the ones that I can afford/qualify for are generally in neighborhoods I wouldn't feel comfortable living in. 

In my opinion, you or whoever you are booking for should look at neighborhoods outside of Time Square for availability and price reasons.