I am looking to grow the portfolio to short term rents in Daytona Beach, Florida.  

Once you have a short list, get an account with each one and run them through the wringer to see how they function.

To list a few...Anyone who wants to increase their property’s income potential (and equity) and build new housing in a market that struggles with high prices, low supply, and few new construction.House hackers who live in their primary and want to airbnb an ADU love this strategy or vice versaInvestors who want to do both long term and short term benefit from having two separate units.Rental Restrictions on ADUs.Thankfully, Raleigh is very STR friendly and ADU friendly right now.

I've done pretty well as a relatively novice investor in the stock market, just investing in S&P 500 tracking index funds.

The quick short answer in my opinion is this: If you want growth stick to the small multis that you know and once the mortgages are paid off retire fully.

Short answer: Yes, laundromats can be profitable, but profitability depends on a few factors.

The only exception might be if you plan to and if your market supports short term rentals.

Here's my take on the decision:First, let’s look at the pros and cons of paying off your current short-term rental (STR):Paying Off Your STRPros:-You Eliminates your largest fixed expense (the mortgage), which increases your cash flow significantly.

I would generally rent to them even if they are a little bit short on rent to income. 

Quote from @Andrea Wellman: Would like to invest in short term rentals to start and learn from this forum and experts.