Depends what you want to go into. A specialty like family medicine with plenty of open spots at the end of the match will take someone who hasn't rotated at that location, whereas a more competitive specialty may require a rotation for an interview unless you have rockstar scores.
It also depends what kind of training you'd like to get out of the rotation. Of course every location is different but you might prefer a more one-on-one interaction which you would get out of a private practicing physician. At a residency location you may only have residents leading you along and your experience will depend on their demeanor, experience, and a whole shlew of other factors.
You should also consider the idea that you don't want to walk into an away rotation and look horrible because you don't have much experience in particular sub-specialty yet.
I'm an MS2 right now scheduling for next year; we only have 1 elective month and I definitely plan to use it only for potential residency locations. If I had more I might consider something closer so I wouldn't have to deal with housing and travel. I personally wouldn't waste much time with locations that don't have a residency unless it's a hassle to schedule multiple or if you need more experience to make this away rotation worth it to you.
