My family stayed at one of the cottages at Azalea Court, and had a wonderful time. The price was quite a bargain. The cottages truly do look like they were preserved from the 40s-50s, and are very cute, clean and functional. This was the perfect place for a family to stay - very short walking distance to the park, the bay (and charter boats), some of the best restaurants and cafes in the area, ice cream/gelato, and a short drive to downtown Panama City/malls and the beach. The courtyard is beautiful, and has a resident cat ("Courtyard") - but he doesn't bother the guests. There is assigned parking, and bikes and a washer/dryer available. The units have a small kitchenette, A/C and wireless internet.
If you are looking for something luxurious/fancy or beach-front, or cannot stand the sight of a cat, this is not the place for you. But this was absolutely perfect for a relaxing, quaint, clean, and comfortable vacation cottage!