5. "Since you are OBVIOUSLY cakey" In response to In response to 0
I'd probably say Cordova is your best bet. It's considered Shelby County so if you have any children, etc....the schools are better. They also have homes that would fit into your price point easily.
As someone else has said...if you spending over $2000 for lodging in Memphis...you have strippers throwing rosebuds at your feet every morning.
As for what to do? Beale Street is there, there are lots of music shows that float thru town. There is a Boho contingent of which I am a card carrying member...so you'll find like minds from time to time.
Memphis is also a foodie spot...so you won't be at a loss for places to eat.
You'll have to find a group of friends and that will be what you do...because it's not like the night life is fantastic. However, I have friends I visit every time I float through so I'm always entertained.