Thanks for the advice - and topo thanks for your experience. Still trying to figure out if we actually want to do this, and Durango is in the lead mostly because it's a slightly bigger city and might offer more opportunities for summer day camps for the kids while we have to put in work hours. Telluride is definitely far beyond our budget but probably my favorite place in Colorado that I've ever been to. I see the convenience in a condo or townhome but blergh, would love to have space and not share walls.
I do think about moving full time down the road, especially as climate change makes summer here less and less bearable (no CR, just the facts), and also like the idea of being able to make rental income when we aren't using it. We would hire a property manager for when we are not in town, which does eat into income, but would cut down on hassle some. Prices for rentals throughout the summer seem to be at least $300/night for anywhere decent, and some places are already booking up for 2022. Renting a place for two months in Durango in the summer is pretty damn pricey - a 12 night stay at a pretty basic 2 bedroom house outside of Durango was around $5k - would much rather be investing in property than dumping $10k+ every summer.
NM is cheaper, but rental prices are not going to be as high. I just prefer Colorado overall (I know Durango is full, but so is Austin - ATX will be happy to lose us for a period of time).
I think we are going to start out by spending a couple weeks in Durango next summer and go from there.