I'd build up and go for at least 2 units but 3 stories is better. 3 story walk up apartments account for almost 65% of apartment developments round he country. this is what I'd recommend on your lot. this is 35' tall and we do it in columbus oh 

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I think investors see it the same way and invest that way too leading to bumps in prices if they start to see a trend.   

That gets worse as you get farther out of the cityTLDR: values depreciate, inflation has gone basically nowhere in Japan for a long time, the supply of housing is pretty good compared to demand (unlike the US) and that's because of flexibility with rezoning and development, taxes on rental income are high. 

A more realistic expectation is 24 hours which will ensure we can arrange any repairs or corrections with a team, handle it in person, etc. be curious how this plays out as I worked for local developer for a while and developed several properties in Alexandria (Specifically old town) and while the city is challenging like any city - they were mostly realistic.

what would you think of a 14,600sqft 3 unit property in sailboat bend, off market, that is RMM25 zoned and has a nice single family and duplex behind it, half of the lot if empty so it can be developed or RV/trailer parking, for $1.1M?

My advice would be to start small with your first deals to gain experience before scaling up.

Didn't get into rentals on pupose but it's working out well and I want to continue to learn and develop my portfoilo.

I wanted to share my situation and get some advice.I currently own an apartment in a highly developing area in Guaynabo, PR.

It really helped us a bunch as we got started a year ago.