If you really hustle and are smarter than the average bear, you may make enough money that you can buy an investment property.

In doing so, bear in mind that the cost and admin of a corporation is higher and that the tax treatment is different:1.

Sometimes a sewage line will sag over time due to settling of the surrounding soil.

Also, if the LazyDog exits at some point, and a new tenant needs to come in - who will bear the architectural/remodelling expenses?

It's tough to swallow, but if it's not renting, it's likely as simple as the market won't bear the price you're asking.

For example it is my understanding that Big Bear allows it but whoever is managing the property has to live within 1 hour of the property. 

Also you have to understand what kind of investor you want to be.  Are

And your net worth will thank you.If you still want to go ahead, you'd be better off buying a house than an apartment because, while the value of the building itself will go to 0, you'll still have the value of the land, bearing in mind that the land might actually lose value too given the depopulation and the yen depreciation.Sorry if I'm pooping a party but make sure you understand what you're getting into (which you're already doing by asking the forum) and then make the decision that's right for you according to your objectives.

I didn't see anywhere that you posted what they said ARV was, or what you think it is based on comps...the County assessment has no bearing whatsoever on value.

@Jerry Zigounakis For your STR in Big Bear, forming a CA LLC is ideal for liability protection, even with the $800 annual franchise tax and possible gross receipts fees.