Morrowind (Balmora) is a good one because you can also get the house motifs to sell.
I tend to do a loop of the east side (round behind houses) across the north bridge into the inn, cook and guests upstairs, exit and do the man on grass outside north city exit, then down the west side, behind the south west houses, the across the south bridge to the east and start over.
Here'e a quick map I did in paint to try and give a better example. There maybe some better routes but this is what I do and as long as you steal, steal, kill NPC's generally respawn by the time you're back (subject to number of other players doing it).