Configuring Settings
There is a drop-down on the side-bar of most pages that you use to switch between each location. This drop down will allow you to only select the location in which you would like to edit making it easy to just work in one location at a time.
Making changes that you want to affect all locations will need to be done for each location. For example if you add a new Surface or Delivery Type or configure any setting, you'll likely need to do it for each location.
Lead Statuses are account-wide and changes on these pages will affect all locations.
Everything else can be configured uniquely between your various account locations. For example, you can have separate email templates, contracts, Google Calendars, delivery schedules, quote pages, etc.