If its about location for you, you will need to suck up some of your profit for location, but if profit is your main driving factor, then you should really explore STR and look at what you can really make with our booming tourism industry.  

Because of this, they're creating a resort vacation community just outside the city but well within the tourism hot spot.

Along with the tourism, jobs, and the beaches I already mentioned, Sarasota has great long term appreciation potential.

I understand this business model doesn’t work everywhere but I am fairly confident it will work in my market due to the fact that tourism is the #1 source of income for the island.

My area is rural and the small town is happy to have more tourism come there so I feel we are safe in regard to restrictions.

Besides the cosmetics convention, what else brings tourism to Avondale?

We have a great blend of tourism, industry, 2 colleges in our county, agriculture and vacation homes.

Definitely will help tourism! 

Beach towns tend to only have tourism, which is the first thing to take a hit when the economy softens.

Those markets are going to have years and years of proven tourism numbers, as well as the most favorable STR regulations, since the economies of true vacation rental markets have depended on STR income for decades.