Newcomer / Intro Help understanding Rare Commodities

Hello, now I was getting familiar with rare commodities before but then there was a change and I'm confused again. This is what I currently believe to be accurate:

1. Rare commodities only spawn at one port in small quantities every 10 minutes
Question 1: Can you sit at a port and just wait for them to spawn so you can fill up your cargo hold? or are you only allowed to buy a certain amount?
2. You need to travel 150LS in order to sell them for maximum profit
Question 2: how much less do they sell for if I only travel 100LS for example?
3. Any port will buy them for the same price, it's only distance that determines the price:
Question 3: Is this true or false?

I just want to make sure I understand them properly before trying to go out and trade them.
 
the max is about 170 LY
The distance is everything that matters (and legality issues) A full scale war just broke out in one system selling illegal stuff
 
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