What's the best neighborhood in Memphis for a first time visitor?

I've only lived here 4 years (moved from Chicago) but think the Downtown area would be your best bet. You'd be able to walk to a few places though parking in Memphis is usually not an issue. I live in Midtown and can't think of any hotels in this area yet. Overton Square in Midtown has been booming lately with restaurants and stores but the old vacant hotels are still in the works for construction. Walking downtown is a bit depressing with all the closed up shops on Main St. There are the touristy things to do like Beale St. Peabody Hotel is gorgeous and you have the Peobody ducks that come out morning and stay until 5pm I think. Places to check out would be Cooper-Young neighborhood for places to eat and a few shops. Overton Square is buzzing with energy now that it has been revitalized. Stax Museum is impressive (I didn't have high expectations when I took a musician friend from San Diego). National Civil Rights Museum. Over on Mud Island there is a water area with a scaled down version of the Mississippi River from beginning to end. More for kids but still fun to see and get your feet wet on a hot day. South Main has some nice businesses: http://www.gosouthmain.com/

Here is a good website to check out: http://www.ilovememphisblog.com/

Every Friday she posts 5 things to do on the weekend. I prefer the more urban areas so going out east to the burbs is not really my thing. 

Midtown is where most of the historic neighborhoods are, though downtown's revival has seen a lot of adaptive reuse of warehouses into condos, etc.  However there are almost no hotels. I'm an airbnb host and recommend you try it, HomeAway, or Flipkey.  My neighborhood, Central Gardens, is just a jewel, with beautiful historic architecture, incredible landscape and many guest houses situated behind main houses.  

Those websites will offer a room with a host, or your own private rental and many of them at the cost of the avg hotel.  Beside Central Gardens, also look for rentals in Cooper-Young (if you are south of Central Ave, stay east of Mclane) and Evergreen.  You'll be 10 minutes from downtown and 10 minutes from all of midtown's fun, including the Levitt Shell, multiple breweries, Overton Park, Memphis Zoo, Overton Square, the theater district, Broad Ave, Crosstown and Cooper-Young.  

If you prefer a hotel there are many good ones downtown and one right by I-240 in midtown, I believe it's a Holiday Inn Express, it's on Union Ave.  

Hope you have a blast!

I'm not a local but locals drove me around the Germantown (Tennessee) area and I really liked it.  Lots of Southern Plantation type of homes and mansions in general.  You might also want to consider seeing Graceland while you're there!

I'm live in California too, but my husband's family is in Memphis and I look forward to visiting them every year. I can't speak to hotel options (ah, the joys of family), but I love the Cooper-Young neighborhood. It is young, bright and friendly, with lots of walkable shopping, restaurants and nightlife. I like to visit Goner Records, Bar DKDC and Tart - while I'm there. It's also pretty easy to get from here to other areas, like the Memphis Zoo and downtown. 

There is so much good food in Memphis! (Let me know if you need any recommendations, like Gus's World Famous Fried Chicken and Hog & Hominy.) And live music. You're going to have a blast!

The Crowne Plaza Downtown is reasonably priced and the staff is very friendly. It's less than a block away from the Memphis Cook Convention Center and within 6 or 7 blocks of Beale Street, Front Street, Mud Island River Park, the Peabody Hotel, the Bass Pro Shops and lots of museums. After a long day exploring, hop the Main Street bus and be back at the hotel in minutes.