My big worry is in cold climates, extreme cold in the house and long delay in repair could cause pipes to burst costing even more money.So service contracts for heating works for me, particularly if it's through my oil company.

In Florida's climate, you really don't want shutters (or windows for that matter) that open and close.

People are leaving states like CA and moving to Texas for a reason...no state income tax, good business climate (fewer regulations), etc.

@Will Grabert I haven't found any good deals that fit my requirements since August, I will add that I have very high standards for my acquisitions so I'm probably not going to see many more opportunities in the current investment climate.

I'd love that same climate elsewhere. 

I can think of property management, plowing (in the colder climates), mowing, capex.... and what else?

If the furnace had some specialized function, such as in a climate controlled self storage facility, then it could be a 5 year asset. 

In fact  such homes are often of superior quality because they are built in climate controlled indoor plants rather than lots of inclement weather. 

However, the climate has changed I think and people are more likely not to pay you.  

The biggest downside is that Sunset, Richmond, West Portal areas have the worst micro-climates.