I have been showing this thread to my wife, she has been wanting her own bike for years but the problem for her is that she is only four foot eleven. Now over the years we have looked at a few options, she can reach the ground with comfort on the little pocket rockets like the 250cc or some of the 400s but she wants a harley.
After I lowered a friends sporty down as far asit could go with actually hard-tailing it, and she could put her feet down comfortably.
If your price range is back to 20/30 year old bikes then I suggest you have a look around the scrap yards for cheap short shocks and front ends to suit. I know a bloke her who got a kwak Z650 1978 and lowered it down for his small wife and including the cost of the bike and the bits from the breakers yard, the whole thing coat him less than a 1000 euro, about $800.

Good luck with it.

I agree with Rex. I had so many issues with stability on uneven surfaces on my sv 650s that were resolved when it finally fit me right. (lowering links & scooped seat)
 

I had to start over when I got the sv 1000s. Unfortunately, the timing was such that by the time I picked up that scoot and got it into the shop before my first long-distance trip the only lowering that was done to it was the lowering link in the back. As a result, I had some scary touch and go moments for the first 2 legs of my long haul. I wasn't used to the additional weight the 1000s had over my 650s and with it fully loaded for the trip it was a struggle for me. I had to go out of my way to find flat surfaces, or ask a friend to help pull me to a center point where both my feet were down (toes/balls of feet - not flat foot) .
 

I had a really frustrating moment by myself behind a hotel in NJ that had a slight slant to the parking lot with no one around to help me. Thanks to determination and a cement block in a nearby parking spot I managed to continue my journey. I walked my bike right up along side that cement block, stepped up on it, got myself into position with one leg over and pushed off the block to get my bike off the stand with me on it. (For a moment I sat there thinking now what? What happens when I get to the next traffic light and there is a slant in the road? Am I going to go down? but then I said "Hell with it! The only way to know is to just go"...  and if it happens I'll deal with it then)
 

Not having my feet firmly planted while on that bike took up some major mental real estate. After I left that hotel in NJ I needed gas on the turnpike I had to scan the attendants before committing to a gas line to see which one looked most likely to help give me a push (or pull) to get the bike off it's stand after I filled up. Luckily the ground was flat and I could do it without having to embarrass myself and ask for help in that way. You really need both your feet solidly on the ground to do this. The only thing I cared about that day was getting to VA, I promised a friend I'd be there that night so I kept going.
 

Another issue you may find with short legs? Bruised calves. By the time I got to VA the calves on both my legs were so deeply bruised it felt like charlie horses. When you are on tippy-toes at stops your calves are tight, Depending on the type of bike, if the foot pegs are placed so that they bump your tightened muscles you'll bruise. Do that repetitively and the bruising goes deeper and spreads. It's painful. I wore leather boots but they ended just below the muscle of my calves, which was right below where the pegs hit every time I stopped.
 

When I got to VA I refused to go any further until I had the 1000s lowered more (the forks pulled and the seat scooped) so I took it to a shop I found online. When I showed the guy at the counter my bruised calves he told me about some fully adjustable foot pegs that rotate to any position 360 degrees as well as shifting forward or back depending on length of your foot. So, if you have short legs like me, it isn't just the flat foot issue, it's the wide stance you lack. Again, depending on the type of bike you ride, the pegs will get you unless you can move them either forward or backward away from where your legs are positioned when your feet are down.
 

Let me tell you all of that work was worth every cent AND the delay to my road trip. It made a huge difference in both comfort and safety for the remainder of my ride. I could focus more on enjoying it and less on how to avoid dropping the bike on a slanted surface, or how much my calves were hurting.
 

I know you have a lot to deliberate over, and perhaps the knowledge we are imparting is not directly applicable to your specific situation, but maybe it will help down the road once you get the bike part resolved... or maybe it will help others reading this forum.
 

Whatever direction you choose I wish you the best of luck!

& may you never have to suffer this:

 

I have an 883 sportster 2008 L model, my husband lowered the forks on the bike by twisting them. I am 5 ft 2 and my feet touch the ground.

Said it before, I'll say it again. I've got a 2001 Indian Scout that the wife was riding before she got her Softail Custom. The bike is completely stock suspension wise. The missus sat that thing FLATFOOTED with her knees well bent and loved it! VERY low center of gravity. She would straddle it and throw it around using only her thighs! She ain't no big gal either. 5'2" 1450cc 88cu inch Don't know why Indian don't start producing them again. Women love'm

my 69 hardtale sporty has a seat height of 25 inches but you dont want that kind of bike for a first one

 AdventureGirl  wow bad bruise there, I would have to agree with you about being comfortably able to reach the ground. 
I am 5 ft 9" and last August I went down and bust my ankle even though I can reach the ground fine. I dread to think what I would have happened if I could not have let her down slowly. 
Tip toe is not good enough and you can cause damage to your bike and yourself  by not being seated correctly.

Interesting input from Steph, (being a guy I must say I didn't look at it from that perspective Steph) Inga and Buffy. These ladies have my total admiration and respect. They Know First Hand

Harley Davidson Deluxe, seat height unladen, 25.9 inches. Plenty of good used ones on Craigslist/Ebay/Chopper Exchange.
Harley Davidson Fatboy Lo, seat height unladen, 26.4 inches. Not many used one's as they're new this year.
Harley Davidson Fatboy, seat height unladen, 27.5 inches. Again, plenty of good used one's out there.
Still too tall? Add a Harley Davidson Reach Seat. It moves the rider approximately 1.5" lower and 1.5" forward from stock seat height.

Problem solved...

I agree with most posts here. I am 5'4" and I knew what bike I wanted (Hertiage Classic) I was tip toed on it and I found it real hard to stop and not tip over. So I asked around about what I can do to help me get lower to the ground instead of lowering bike. HD has a seat called Easy Reach and oh boy did that seat make a HUGE diff... Didnt only bring me down 1.5" but pushed me forward 1". So now I am more comfy and able to balance bike that I am now ready to put my stock single seat back on. Just my 2 cents.. Michelle

try a honda 600 vlx, then buy some shorter shocks if thats still too tall, they sit pretty low to the ground, but if need be try a 1" to a 1 1/2" shorter shocks, that should do the trick..........

I deal with problems like this everyday at the shop! There are several bikes that address the hight issue and H-D shops have a fit center! Check the XL883L, XL1200L, XL1200N or a FLSTFB. There is several things that can be done to address more hight issues beside this. Hope this works out for you. Also for a rider course class take a Riders Edge and some Buell Blast have the low profile seat and that would help you on that.
Best of Luck, and don't give up!
Wes

Hi Gina , I'm only 5'1" and I ride 06 Dyna , I trim my seat (foam) about 4" and lower the front and back , my boots hv 2,5" heels. I'm rolling for three years and my firts long ride was to SC bike week , we all know you can do it :) jus find the right bike for you and work on it ... Good luck ...

I'm 5'3" and have a Shadow VLX. Perfect fit, I can more than "just" flat foot and it is light enough I don't have any trouble handling the stopped weight. It has been a great first bike.

I'm 5'3 and truely it's tough to manage certain task, as for my bike, a stocked 883 Sporter LR, It fits me like a custom,my feet are firmly on ground when they need to be, and i get to ride. I can't say that about my Dodge 4x4
pickup i drive, i barely get enough grip on the hood to close it down, adding oil ,when needed, It don't happen without a boost .The truck is 11yrs old and using oil not leaking,but i really need to add a little stool in the back and that way i will not have hangout a Bucky's and ask a stranger to unscrew the oil cap and add the oil also. like i
had to lastnight.
My only other way,climb in and add, then go home wash my face change my white shirt and deceide it's later
than I realized , 50 miles in front of me, wondering if i missed my friends already, and hey! The Red Green
Show is on. Like Stephaniebritt advised ( sadly but true) I walked in the dealer and there was the bike i bought
and still have ,and it feels great being succure on your ride. Although i felt comfortiable and well planted on a Fatboy that was low.Wishing you good riding !

Not sure if people w/ a gender challenge can comment here
If you are short consider a Blast - The practical top end is a 65MPH proposition but they are, well, a Blast.
I might have bought one but even w/ the "Tall Seat" my knees were on my chin.
Right now you can get them at Fire-Sale prices

Ooh Dyna, bruises heal faster than breaks. Hope your ankle injury didn't set you back too badly.

To all you Silly girls...Its simple...you should just ride with me....more than happy to help while the ole leg heals up.....

I totally understand how you feel regarding being short and finding that "perfect" bike for you! My husband found CycleFish, and wanted me to set me up as a member on here; however, I told him that until I had my own bike, I would not join, because I had wanted my own for so long, and was always told I was "too petite" because I am 5'1" if I have heals on! My inseam is actually 2'1/5". About 3 weeks ago, we stumbled across a 2008 Honda Shadow Aero 750, already lowered 2", and some seat padding removed also. It is the "Perfect" bike for me. I had never ridden before only as a passenger, so I've been going to a big parking lot and practicing. I was also very worried about the riding course having a bike fit me, however, my course started Friday night, and we made it through all the classroom and took the written portion, and I passed, but the riding portion had to be postponed to due storms in the area. The Harley dealerships use the Buell Blast for the course, and they have modified a bike to fit me as well, so I don't think you will have any trouble with the course at all! Even though, I haven't gotten to ride the course yet, I really enjoyed the classroom, so I know on the 22nd and 23rd the riding will be fun as well! I definitely recommend you take that class. I am just as much a "newbie" as you are, and vertically challenged as well! By the way, the bike I chose was 1 yr old with 2700 miles on it, and Very Reasonably Priced as it was already lowered and several accessories on it already! Good Luck to you, and please keep us posted on your progress!

Ok,..I am only 5'1" ON A GOOD DAY.....lol,...I have a HD Sporty Custom 1200...also,.. I have a fantastic husband that did some great Mods for me,....I put "short" shocks on the rear, and did a for lowering kit on the front,..which has provided me with a firm flat foot on the ground with a very cool "slammed" appearance,..along with that,...I put some $$ into a solo seat that was tapered in front significantly in the crotch area with is perfect. It fits like a glove!!
Best of luck to you,...my advice would be to buy what you like and modify it to your personal taste and fit. After all,....I like to be different and not conform to the cookie cutter image. Ride safe.

I'm 5' nothing and ride an Aero.