It looks like the ductless unit has a separate compressor and air handler. I wasn't catching on to that.
If that's the case, I can have the compressor nicely hidden below the fence line but still mount the air handler high on the inside wall so it clears the cars.
Maybe I can get a deal on the Mitsubishi unit through my Mitsubishi turbine buddies
EDIT: I looked around at prices and it looks like for a 2 ton unit I'll have to spend at least $2200 for an A/C only unit or $2700 for a heat pump. Then tack on a couple hundred more for wiring, tubing, and coolant.
That's a lot more than I was planning, but it looks pretty portable so if we move I can take it and just have to patch up a little hole.