Take this for honest feedback and not kicking you while you're down -If estimating accurately was as easy as simple (sqft * $$) you'd rarely see a contractor go out of business and investors would all fly on private jets to eat lunch in Tokyo, dinner in Paris and breakfast in New York.

I was just in Tokyo this past winter and can confidently say you might enjoy the break from the crowds and stimulations of Tokyo for SF.

Also with prices shooting up here in tokyo would it be advisable to look in another population center, or wait for a good deal locally? 

I haven't had any experience w/ renting a house w/ a yard here in Tokyo, so I had a look on the net - they say that it should really be spelled out in the contract; and if its not spelled out explicitly - some say that its the owner's responsibility while others say its the tenants.Sorry there doesn't seem to be a clear answer, but let me know if you have further questions.

Aside from Tokyo and Osaka, investors lean toward Japan for its cash flow market from rental income, and low price properties.

Currently my girlfriend and I are living in Tokyo, Japan.

lol ;)We'll be heading to Chiang Mai for the lantern festival in Nov, Bangkok, Phuket, then Tokyo, after I go to India, after the Summit.

There's a solid group of international investors here in Tokyo, some focused on Japan, some countries abroad, and some like myself both.

So I am 26 years old and really have very little experience with real estate. That being said, I am at a conflicted crossroad where I'm trying to decide if I want to just move out of my parents' house and just rent, o...

Peeking into the financial statements reinforces the wisdom of renting in a high-priced area like central Tokyo (would apply just as well to SF, NYC, etc I'd think) - they are only making 4-5% net on their building!