We are based in NYC but are considering (as of now) locations outside of NY but within a 300 mile radius. 

If you buy good properties in good locations you can do fine in Buffalo. 

Something simple along the lines of, no pets due to small shells and turf located at property that may hurt pets, would dissuade even service animal owners.  

Most real estate agents actually do not have the need to go into an office to close transactions and meet clients at either a natural location or at the properties they are showing or listing. 

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

It's a 5th wheel located at a campground.

We plan to stay in the new primary residence for a long time because we love the location, the neighborhood, and the land.

Location, location, location. 

I’m currently targeting properties in the $200K–$500K range, depending on the location and potential cash flow.

As for the 2% rule, most of the properties that meet those criteria are in war zone locations.