Beachfront in a premium market like Destin is another spot I'd be looking.

You are correct that Orlando is competitive, but it is also the top tourist destination in the US, with a guaranteed flow of guests year-round.

It's a recognized destination globally with over 70M tourists a year.

I can also infer a few other items in later points, such as vacation destination, no sales tax, and a commuter state. b.

I would like to refinance a condo in Destin, FL being used as a short term rental.

Speaking from experience, until we dialed in a fantastic cleaner our properties were very meh.Something to consider for Florence vs rest of the OR coast is proximity to Portland or type of destination. 

A totally managed vacation rental - think ski condo in a central managed destination. 

AND try to find a market where you do not have to compete as much with 2nd home demand - a place where people go to vacation but is not top of mind for a rich guy's vacation home destination (ski town, lake house, etc.).If you are asking for the secret market that returns 20% cash on cash without any renovation or difficulty, that doesn't exist.

A house is a place to live, a car is something to get me to my destination.

I have started looking into Waco as a potential destination and wanted some advice about renting in the area.