depends on location, in a city they should be within .5 mi, in a suburb 1 mile and rural  5 miles but unique properties can be stretched further, I have done thousands of BPO's for banks, the rules were 3 listed and 3 solds, within 20% speck and similar condition, and make appropriate adjustments for differences, there is more art than science to it.

I recommend contacting an attorney to ensure, see if there are any city/county/state rules that you haven't considered, and you can get a local lease from them.

How is the market in razor city? 

I’m going through this process right now with Hurricane Michael. 12 units in Panama City.

Denver entered the 2008 real estate crisis earlier than most cities, fell less in value, and returned to growth quicker than other cities of similar size.

I've been researching markets in the midwest for some time and KC was one of those cities that just kept rising to the top of the list for potential cities to invest in.

Although I'm extremely biased to New Orleans my advice on choosing a city is travel and visit as many of these places as possible even if it's just weekend trips. 

It may seem that way, however if you can crunch the numbers and know how to get a cap rate, no longer in unicorn city!

Looking at a crime heat map, it seems like this area has an extremely high crime rate compared to most of the city.

Nice area, within 45 minutes commute to a city center.