The guest said she was house hacking but only stayed there in the property 6 months out of the year and short term least it out the winter months to travel and stay where it is warmer weather.

From what I read, most people are moving into FL, TX, NC, SC and TN.In my opinion, the best weather conditions of the above 5 states is within NC / SC.Also, i think a lot of wealthy people are moving in NC.Best of luck with your move.

I think, in general, unless you're an extremely high W2 earner just looking to get into real estate for tax purposes, buying for cash flow gives you the durability to weather market fluctuations as you're never in a position where your back is against the wall and you need to sell... unless you have debt coming due.Now, that being said, if the true cash flow, after allocating for all expenses, vacancy, maintenance, capex, etc. is in the black, then I think taking a 5% CoC return in an appreciating market isn't a bad move, especially if there is a component of value-add. 

You also have to deal with winter weather in the northern states and possibility of pipes freezing and higher heat costs (which would be paid by the tenant once rented out).

There WILL be some shade difference, as the existing has weathered for 4yrs now. 

agreed 76 to 80 dgrees is just fine with 110 degree weather.. 

And invest in an area that's growing, the land is valuable, the cost to rebuild is 20%+/- the purchase price, you have the ability to weather the asset's volatility for a decade plus and trust the process.

If you can weather thin deals right now on the hold side, it will pay off. 

Based on this ruling, the City no longer has any regulations for short term rentals.This should clear up an confusion about weather STR are allowed as the courts have unambiguously decided that they are both permitted and protected.

At closing, and for the 2024 tax year, the replacement likely won't have any income/tenants because it's on a lake and more of a warm-weather rental.Thanks so much.