Rednex,
The ground school training for a SIC is the same as a PIC at US airlines. The checkride is about the same, SIC don't have to do steep turns, no flap landings and if it is a 3 or 4 engine, they don't have to perform a landing with 2 engines inop. They don't have to schedule a FAA/ADE person for the checkride if it's just at the SIC level which makes it simplier for the airline.
As to living within 60 minutes of your base, I've known pilots who've had their base change 5 times in a years.