I am going to keep the equipment by the pool inside the fence. I think it would be better for all the reasons already mentioned.If there are multiple suction ports, then there are usually some valves to control them but what I am talking about is a single 2-weay valve right before the pump after all suction ports are combined. This is so you can close it off, fill the pump basket, turn on the pump and then open the valve. That is the only way to prime a pump at a high elevation.
However, I would avoid a large elevation change if at all possible. You will be forever fighting air leaks.