Good question! Everyone seems to have their own best methods for finding their bird. Dual deployment helps, and where you're flying from can make a HUGE difference. Recoveries can sometimes be tough at my home field. I've lost several fine rockets there - all of which were too young to die.....
Some folks just seem to have a nose for finding stuff, and others (like me) have difficulty. A GPS and/or compass can be a lifesaver. FRS radios can be handy too, have someone stationary talk you along a vector to the landing site.
You should have an audible beeper at a minimum. Electronics use are up to you. If you find your rocket with electronics a couple of times under conditions that would be otherwise impossible, then the electronics just paid for themselves. Loss is an unfortunate part of the game sometimes.