Fort Lauderdale has higher purchase prices and nightly rates, but Pompano has had an influx of investment and continues to improve, specifically by the beach. 

My recommendation would be to engage an investment property focused realtor (not a general residential realtor) and let that person guide you through the process from pre-qualification to market/property valuation and selection. 

If you have the cash to make a lump sum payment and are happy with your current loan terms, recasting could be a smart move to improve your financial flexibility.

Great hosts will be good neighbors, will contribute to local tourism and will pay their taxes and permit fees* A major area to improve on the proposal is the 1 hour time-limit for resolving complaints.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Even if cashflow isn't your focus, I would caution against a truly cashflow negative local property, where you're also not factoring in the cost of maintenance. 

(All of those keep the focus away from themselves and helps them relax, AND it lets me talk to people with NO SOLICITING signs, since I am wanting to BUY for myself).   

Jeffrey:I'm connected to a large group in Indy that focuses on buy & hold SF and apartment (commercial) residential real estate. 

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

Keep detailed records of repairs, improvements, and rental income, and consider working with a CPA specializing in real estate to ensure you're taking full advantage of deductions and strategies like passive losses, home office deductions, or even the Qualified Business Income deduction if applicable.Good luck!