I am trying to call text from input using angular js

You don't need to pass the parameter to the save function (and your definition of save doesn't include it). Change the button to:

      <button ng-click="save()">Save</button>

Or either accept the parameter in the function declaration:

$scope.save = function(serverip){
 console.log(serverip)
}

ng-repeat creates a new scope, inheriting from the scope above it. You are assigning serverip to this newly created scope. Thus, $scope in the favouritesController's context has no record of this. You should accept a parameter in your save function and log that (as you are passing this function the argument, anyways.)

Edit: or, as an alternative... Expose a property that will be inherited by ng-repeat:

Controller:

myApp.controller('favouritesController', function($scope, $http, $rootScope, $route, $location) {
 $scope.ip = { serverip:'' };
 $scope.save = function(){
  console.log($scope.ip.serverip)
 }
});

Template

<div ng-controller="favouritesController" class="col-xs-12 favList">
  <input type="text" ng-model="newFav" ng-keyup= "add($event)" class="col-xs-12 FavInput" placeholder="Add A Favourite">
  <ul>
  <li ng-repeat="weatherList in weatherLists" class="col-xs-12">
  <span class="col-xs-12 col-sm-8">{{weatherList._id + ' / ' + weatherList.place}}</span>
  <div class="col-xs-12 col-sm-2">
    <button type="button" name="button" class="deleFav" ng-click="delete(weatherList)">Delete</button>
    <div class="col-xs-12">
      <input type="text" ng-model="ip.serverip"/>
      <button ng-click="save()">Save</button>
    </div>
  </div>
</li>
</ul>
</div>