If you want to move the location of the master and the location of the slave, you will have to recreate the slave site directory to take in account the new slave site location and that all the symbolic link point to the new master location.
So if you move the master website from a place to another one, you will have to create a temporary symbolic link in the old location to point on the new location. This will avoid that the slave search for something that does not exists.
When you have move the master and updated it configuration to reflect the new location path you can go in the slave site and delete all of them (without the DB) and rebuild them using a new location.
Once you have all the slave site move, you can delete the old location and also the link you created temporarly in the "old" master location.
If you want that we help you doing the move, this is also possible with our billable support that you can order at
www.jms2win.com/en/joomla-multisite?page...35&category_id=1