Looking buy and hold outside of NYC

[Eric Tsang]

Hello BiggerPockets!

I am very interested in the Buy and Hold strategy in real estate and was wondering if it is a bad idea to invest 3-4 hours outside your home? 

I bought my first home (3 family home in Brooklyn NY) in March 2015 and live on the 3rd floor with the two other units rented out. The rental covers all the mortgage/tax/insurance. I do not have enough capital for a investment property in NJ/NYC.

Is Syracuse,NY a good area to buy rental properties? and if anyone is familiar with Syracuse, is vacancy and tenants that do not pay a big issue?

A little bit about myself, I am an Auditor in the financial services industry and fell in love with real estate after purchasing my first home and becoming a landlord.

Thank you very much for all the help!