Congrats on the purchase.

Did I just not do the math right on my purchase?

Here are the common exceptions:Relocation for Work: If your job requires you to move a significant distance from your current property (usually over 50 miles), you may qualify for a second FHA loan near your new workplace.Increase in Family Size: If your household has grown, and your current property no longer meets your family’s needs, you may qualify for a second FHA loan to purchase a larger home.Co-Borrower Separation: If you co-signed on an FHA loan and are no longer living in the property (e.g., after a divorce or separation), you may qualify for a second FHA loan for your primary residence.Non-Occupying Co-Borrower: If you were a co-signer but did not occupy the original property, you may qualify for another FHA loan as the primary borrower.Important Note: FHA guidelines typically require you to demonstrate that the current property will not meet your needs or is no longer feasible as your primary residence.2.

The property when it was built in 1980 was an A property but as time, and ownership changed it has gradually gone down the scale. 

I would only place it on DeFi if you're fully aware of the risks, or as a smaller fraction of the CeFi.

My long-term goal would be investing in large scale hotels, I know I know, that's quite ambitious, but I don't mind starting small and working my way up there, as long as I start from somewhere!

Purchase price: $415,000 Cash invested: $90,000 MY FIRST RENTAL PROPERTY !!

Why do you think purchase contracts are so long and have such small print?

For a smaller piece like that, not sure how creative you can get, but it all depends on what it's zoning is, access, proximity to other things, etc.  

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。