In PCB and Destin, though, the balance between property prices and potential rental income is much better.

As noted, commission are always negotiable as are brokerage options (full service to discount companies that pretty much just post it on the MLS and you work with all calls, offers, etc) and an agent can go over likely net out scenarios with you and give you an idea what you likely will be able to net after closing expenses and paying off the mortgage balance. 

The actual penalty varies but it's often a step down or if a 5 year prepayment penalty term, it will be 5% of the original or unpaid mortgage balance if refinanced or sold in the first year, then 4% in the second year and then on down (the exact penalty varies which is why I mention both the original and unpaid mortgage balance.

Ideally, I'd like to find a balance between affordability and potential for appreciation.Also, are there any common pitfalls or things to watch out for when buying a multi-family property in Jersey City?

Roth IRA contributions can be withdrawn tax-free, but earnings may be subject to income tax and penalties unless the account has been held for five years and you're 59½ or older.Instead, consider rolling over your IRA into a solo 401(k) if you're self-employed, allowing you to borrow up to $50,000 or 50% of the account balance, whichever is lower.

Pay the balance before it's due. 

I like that you pointed out all the positives and negatives for a fair balanced post that will help other investors evaluate future options.I have been posting for a while on how hard the North Alabama market has become, and this post shows a good example of it. 

Quote from @Michael K Gallagher: we've generally seen a more balanced market here in central OH. 

A shorter minimum stay and dynamic pricing are great for attracting bookings during slower periods, though the trade-off with single-night weekend stays is definitely a balancing act.

Sure you could do a money market or put it in an ETF or something, but this is one of the options where the balance "can't" go down or is extremely low risk while making a decent yield.