So climate-related issues isn't as big of a concern as landlord-tenant-government ones I hear you saying, Nathan.

If the average time to rent in the general area is two months and similar properties to what you were considering rented in one month, that is a positive indicator.The average tenant stays for many years (for similar properties).There are no rental restrictions; you have the ability to select good tenants and remove non-performing tenants in a timely and cost-effective manner.Has low maintenance costs - this is a function of the condition of the property, construction, climate, tenant segment that the property attracts, and the skill of the property manager.Between 2013 and through 2020, rents and prices in the location increased faster than inflation.

As far as political climate, Austin itself is more liberal but Texas as a state is more conservative making for a good mix.

Honestly revenue is more important than unit count in my opinion but generally speaking 200 units would probably be a part-time boots on the ground situation for me, however if that's 200 units that is climate controlled in a very urban area that may be different...

My question is - do different cities tend to have different rehab issues, i.e. older and more historical cities tend to have more structural problems, coastal areas have their own issues due to climate?

@Steven Stan you can leverage both bro but in this current market climate flippers will naturally want a deeper discount so might not be your best end buyer in this market. 

I know NB is near the ocean, so the climate may not be as extreme as inland, but I didn't think they'd work well in places that get real winter.

I looked at the market in Winnipeg but due to the landlord tenant act, rent control enforcement here a well as the real estate climate I’ve been favouring investing in Ontario despite Winnipeg being a “stable “ market, it just doesn’t compare to Ontario at this point in time.

If you've got an A or B-class place and you think you can rent it out with ease to someone decent, I would consider letting these people go.But if the climate in your current market has recently been vacancies (for other landlords in that rental area) then I would be less likely to give them a notice as they're paying rent and you didn't mention anything else about issues with them (I'm assuming they follow the rules and take care of the property).I've had tenants annoy me, but I also realize I deal in C-Class and finding halfway decent tenants is not easy as the majority of people interested either don't meet my acceptance criteria or have concerning criminal records. 

They cash flow, but I don't know if I should: 1) re-fi to get some cash out, make the updates and hold 2) sell to take advantage of current market condition....but if I did, my questions/hesitations are Will I find a larger deal in this climate that will cash-flow more than the 2 older 4-plexes which I have owned for about 15 years now???