My parents and sister have lived in Pensacola for 12 years now, and I lived there with them for a few deployments, including when my sister was buying their house.
Pensacola is a weird place to look for a place to live. you will see really nice houses, turn the corner and you are in not-so-nice territory. I would defiantly not rent a place until you have seen it in person, and driven around the neighborhood.
That said, I would look for a place in the around Scenic. Really nice neighborhood, and the elementary school, A.K. Suter is amazing. It is a small school, very friendly administration, great teachers!
As mentioned, the weather is like living inside of a sauna. It doesn't really cool down at night, so your power bill might be sky high due to the air conditioning.
As far as employment, one of the biggest complaints my dad has with the area is that with so many military retirees in the area, it is hard to get a job with competitive pay. Most retirees are working to have something to do and not for the money.
A little on the serious side... Pensacola is very much "the south" in the attitudes of some people. on both sides. And there is a "bad" part of town.
For the good, the beaches are beautiful!! The water is clear and warm, the sand is white! i live 5 minutes from the beach here in California we rarely go, because it just doesn't compare to the gulf!
If your kids are into sports, there are lots to do, both recreational through the YMCA and competitive.
It is a very historic area, lots of stuff to see including the Aviation museum, forts, etc. The downtown Mardi Gras and Christmas parades are awesome! More moon pies than you can eat in a month. lol. The navy's Blue Angels are based there, so you can watch them rehearse every week, as well as the season opening performance at the beach.
That is all I can think of right now! lol