Tortola, unlike many of the other parts of BVI, offers an array of accommodations. As frequent visitors, we've enjoyed everything from small apartment-style rentals at Coconut Point to luxury resorts. The best part of all is that each accommodation is different, and almost all run by locals that can give you a true feel for the islands.
The accommodations you eventually decide upon should be in line with what you hope to get out of the vacation. If you're just looking for a good time and quick place to lay your head - then Coconut Point is great, as it's just down the road from Bomba's Surfside Shack and an excellent surfing beach. Uschi, the manager, is sure to take care of you (284/495-4892).
For something completely different though, try the Cuan Law -- the largest sailing trimaran in the world. It by no means is like any other live-aboard, as it's not just for diving and day tripping. Instead the Cuan Law is designed for luxury. Its size alone results in extreme stability, both at anchor and while underway. With seven crewmembers (the captain is Gerry), we felt comfortable and safe at all times.