It's warm, sunny, dry climate.

We are looking to purchase vacation rental property in a warmer climate - just came back from Eleuthera, really like the idea of doing the same thing in a place like that. 

I definitely feel you on moving to a warmer state, but I love the dry climate and honestly it's some of the best weather I've ever experienced

Canada/Ontario cost and financing wise is a much different investment climate.

They work very well in hot climates, and most HVAC techs are pretty familiar with them at this point.  

Where it is located, it will probably only rent 3 to 4 months out of the year due to the climate, thus I am probably looking at using AirBnb or VRBO to market it.

You  can go to the city to find out and sometime off campus housing sites at your local universities can give you a feel for the climate in the area towards students.

@Alex Buscaglia the best time in our climate would be late January.

This is a combination of the climate, condition of the property, and the quality of the property manager.• Stable or growing job market - Rental property profitability is dependent on a stable job market.

Since Indy just got dumped on with another 7 inches of snow with more coming this weekend, I am thinking warmer climates would be best for winter rehab and investment work.