On a recent trip to Buenos Aires we stayed at the Palacio in San Telmo.
The area and buildings are little run down and have seen better days,but if you like lots of restaurants, good bars and tango venues, this is the place for you.
The Palacio fits in well with this neighborhood, it is safe, clean and spacious,so for anyone on a budget and doesn't mind sharing a bathroom this is the place for you.
The couple that run it, Lina & Alex are always helpful and on hand to give advice,so I would have no hesitation in recommending the Palacio for those wanting to see the traditional Buenos Aires