I would stay in a hotel in Cocoa or Cocoa beach or even Melbourne or Orlando. Watch from Jetty Park at Port Canaveral. On the jetty is about as good as it gets unless you have access to restricted areas at the launch area. I have watched launches from both areas and Jetty Park is almost as good as the VIP area at Cape Canaveral. I have watched many launches from there and it is a great viewing spot open to the public. Just get there early.
I should add that night launches are the best if you have a chance to see one. I have seen a night launch of a Saturn V from near Orlando and I have seen several Shuttle launches from the Cape Canaveral VIP area including night launches. I have seen Atlas ans Titan launches from the jetty at Port Canaveral and tey were great.
Great tips thanks!!