I have my development machine at Digital Ocean. My local machine is an under powered macbook air (underpowered now that I use lots of docker for development). I'll probably just get a tiny chromebook next as I just want a dumb terminal.

I run emacs over ssh/tmux. I love it, emacs never shuts down, all my shells run through emacs as well. I can use any machine with my sshkey and be back to work immediately. I can increase the size of the machine, have public access to my dev box if needed. If I have a bad internet connection it doesnt matter since its just sending low bandwidth over ssh. All the real bandwidth comes from DigitalOcean and is super fast.