Looking to get into some smaller apartment buildings in the near future.As far as the difficulties of investing in Japan, I of course agree with everything said, but in my case I'm at near-native fluency and own and manage my own business separate from anything real estate related so even without permanent residency I've never had trouble getting a loan (except of course I can't get some govt backed ones like a primary residence mortgage) for business or investing.I'll try to get in touch with everyone local to よろしくお願いします。

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

You will probably run into some issues and need to budget for that.You budgeted 5k for unforeseen expenses on a 4000sft home.

,While no investment is completely passive, proper real estate investing should be relatively boring.You asked about the process and major considerations.

I am also have issues with this construction group....

There is no issue doing it in your personal name. 

Take a bit of that money and invest in learning - go to meetups and the many events that take place related to investing in the city - some for free and some paid.

And will you have ongoing maintenance issues beyond your CapEx based on the building's age.I personally would be suspect of this deal.

I have been able to review or been told of several audits (from other REI tax colleagues) related to cost segs in the last year or so- and of those none of DIY cost segs were allowed under audit. 

Luckily I did have a clause where the sober living company is paying all repairs and maintenance unless it is structural issues.