Yes, kept it under my porch for about 15 years. Now that I've moved, will put it under a landing, so same concept. HOwever, this will be a little closer to the elements, so I may need to put a water diverter above it if the overhang from the roof doen't do an adequate job.
Not sure why the concern about freezing temperatures. About the only drawback I had from that was for whatever reason, some of my joints got loose enough in the really cold weather to let the tank depressurize. In normal weather, it would stay pressurized. New setup will go right through the wall, though, whereas the old one had a really long run of (hard) pipe to get to the garage.