I just got back from 4 days in Brasilito, near Flamingo. I didn't stay in Flamingo, but Frommer's recommends the Mariner Inn, giving a phone number of 654-4081. They also mention Cabinas Christina (654-4006) in nearby Playa Potrero and the Hotel Brasilito (654-4237) in Brasilito. Personally, in Flamingo I spent some time at the Flamingo Beach Resort and a bar called Amberes, playing Blackjack, and also at the "Monkey Bar" drinking. Also, the beach at Flamingo Beach is pretty nice. I liked staying in Brasilito. We ended up staying in a sort of dive, due to being there the week of New Years, but I would have liked to have stayed at the Hotel Brasilito, which seemed very clean, comfortable and conveniently located. If you spent time at Playa Conchal, then you were literally a few minutes walk from Brasilito and may not wish to go back. However, the meals at the Hotel Brasilito and the Happy Snapper were great and good values, and also the Camaron Dorado, right near the Happy Snapper, gets good reviews.
With regard to Flamingo, I didn't stay there but I would recommend contacting the Mariner Inn and seeing if there is a vacancy. These beaches, Potrero, Sugar, Flamingo and Brasilito are very close together, if you have a car I don't see that it makes much difference where you stay, except for finding a comfortable, affordable motel. In terms of things to do in Flamingo, you can drink during the day at the Monkey Bar or around the pool at the Flamingo Resort, obviously you can go to the beach, as far as restaurants they are there, we ate at one on the main road just before the Flamingo Resort on the other side of the road. For night life, as far as I know there are only the casinos and Amberes. Amberes offers, in addition to it's small casino, alcohol, dancing and food, but it gets started later on in the night, although it's open at 8 pm if not before.
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