Help Plan My Future

I own a biz (100%) along the gulf coast I am selling for a decent size. After taxes and debt, I can pay off all personal debt (mortgage, cc, student loans, etc) and be left with roughly $1mil. Paying off home is a must, as I do not want to continue paying $10k/yr for insurance. Non-wind will save us $9k/yr.

I am also part owner of two other businesses (20% and 50%), where I am not involved in day to day operations.

I am 39 yrs old, wife (who recently quit teaching to help out with biz-wasn't planning on selling), a 4 yr old, and planning for another child.

My parents and in-laws moved from out of state years ago to be closer to us/grandchild, beaches, etc.

Our options are (as I see them):

1. Stay here. Buy 2 long term rentals ($250k each/should net $3500/month). Invest $500k in CD ($2k/month). Other businesses should net $4k/month, minimum. Wife work part time job bringing in $2k/month. Health insurance, as well as other insurances, are roughly $2k/month. Bills (utility/cell/electric) run $750/month. Gives us roughly $8,750/month, which we could live off off comfortably for the time being. We would also have $1mil in assets (homes) free and clear.

2. Move to somewhere in the South. The four criteria I/we have is:
a. No hurricanes
b. conservative
c. 4 seasons
d. good labor market

We have identified Knoxville, TN of all places. There, I can open a similar business to what I have now. We would sell the home, giving us roughly $1.7 mil to start over again up there. We would most likely buy a short term rental back here along the coast for visiting. We would have roughly $250k left over after purchasing the home in Knoxville and the short term rental here. We would obv have to relocate our parents, who are on board (wife is hesitant). I would still have the two businesses, but would only own roughly 20% of each, but even at that, we would expect $3k/month. In 10 years (when I'm 50), I will be able to sell the new biz again for a couple million, and officially retire.

I am leaning more to option B, but I figure I'd put this out here for the gurus on this board to critique. I have spoken to my banker, my accountant, and several financial advisors as well, and it boils down to everyone has a diff opinion, but none of these options suck. Long term care for my parents/in-laws is one of the driving factors in my desire to relocate, as well as my knowledge in my industry will allow easy success. Also, more educational opportunities in Knoxville for a family rather than the beach.