Also - in both places it would be icing on the cake if you found some sort of duplex or house with an ADU , so that you could be either place, and still be bringing in money from the neighboring unit. 

I also noted that the air handler was completely covered in ice.

No state income tax, grass to tend, no ice/snow, humidity/excessive rain, storms with names, floods, earthquakes but with reasonable to great property tax rates and less LL-tenant regulation. 

Random example - I know someone who takes ice fishing trips every and has advanced knowledge on the ins and outs of that world that you and I would never know.

Really pops with a cream trim...

Both found ways to maximize their cashflow and took equity and appreciation as icing.

I'd probably go more often but they usually end up being on nights that I'm playing ice hockey.

Earlier this year I started a bit of a side hustle to place ice vending machines in the parking lots of shopping centers and other open lots in Florida (Jacksonville area, specifically).

Sellers get really tired of getting these letters all of the time so you need to break the ice with them.

Notes are not going to have the potential to appreciate, or get equity pay down, which are icing on my projected returns.