I know I would not want to live next to a vacation rental that rents to 20 or so people at a time and the pool party is still going on at two in the morning!

Wishing you all the best as you plunge into the deep end of the pool. 

Damages to the building itself would be paid from the building’s accumulated funds (sinking fund) pool so that part wouldn’t affect the owner in most cases.Mortgage Interest - Typically you wouldn’t incur mortgage interest in Japan because finance for international purchases is not readily available to foreigners in most circumstances.

I'm especially intrigued by "rehab and value-add opportunity," the 14 vacant units, and the property's proximity to such a large military base providing a steady tenant pool.

The tenant has caused many issues such as:1. many mold issues by not properly utilizing an taking care of an indoor pool room.

I have clients in my field (Swimming Pool Repair/Maintenance) who are investors in different aspects of Real Estate.

This can be a completely hands free transaction too, we have property managers that, for 20%, will put your unit in a rental pool and have it filled all year round.

There is a building close by 480 sqft studios for $1150 but it is a little nicer and there are amenities (pool gym).

I am still debating at this point whether it would, or would not be beneficial to make it a pool home.

I would guess that the number of properties that are owned free and clear that don't need the money immediately may even shrink that pool even further.What if your seller had the ability to sell his/her note for cash at a discount after approx 6 months?