You also need to be able to get on and off your boat, so having a dock to tie up a little dinghy or having a launch (kind of like a water taxi) is key, and marinas/yacht clubs will have those facilities.
I pay around $800 a year for my mooring rental and having the gear pulled off it and inspected annually, and launch service is included. It is far cheaper than a dock.
Some other practical limitations, if you aren't at a dock you need a generator running for power. If you aren't at a dock I really have no idea how you get internet.
But, having lived on a boat in the past I would absolutely love to do it for work in the future.
Internet would be pretty easy to solve, 500ft out isn't that far at all for a PTP wifi link (although the boat moving around might cause some problems with that if you're doing directional stuff). There's also 3G stuff although I once had to spend a couple of weeks working over my AT&T 3g modem and it was almost completely worthless...
/someday
Would you have to pay a monthly fee to the city or something like that?