James, there are no F16's in North Carolina or South Carolina. There are maybe 1 or 2 in northern VA, but they don't come South to play. There are 2 in TN and 1 in ATL that will race in most of the races we attend (Outback, Catfest, etc). That's 3 boats. I'd say you're better off getting a nicer 16. Even the TheMightyHobie18's don't show for our regattas here. If it's the fleet you want, H16 it! You'll have to sail solo and take a ratings hit to be competitive, but you shouldn't get hurt too bad.
There are 5 N20's in NC, at least 3 in SC, and 1 or 2 in VA. If you want a boat that'll handle the big boys...there you go.