Assuming your still talking Florida, if you want/need to work in just one county a county master's license and state registration will work just fine.
But...
You cannot pull fire alarm permits and a few other specialties, I'm sure DBPR has a complete list.
Now the biggest hurtle for an "outsider". Orange county(I cannot speak for others) required (may have changed) that you hold a journeymans license for six years before you can apply for a masters. When I took mine, this was a no if, ands, or buts rule. No substitions allowed.
Also, ER is required to be bonded by a lot more locations. You need a bond for the county your masters is from, bonds for the big cities, bonds for the next county
Good Luck