That is to basically keep you honest, so they judge can tell you tried.

Basically I have more time than money right now.

Yes, I’ve got a mortgage on it now, but my cash flow went from only $1000/month to $2400/month and I picked up 3 more properties basically for free with no out of pocket cash to buy them. 

Once you know the "basics', you can then invest OOS more successfully.If you can't afford to invest in your home area, how will you grow your knowledge of an OOS if you take a shotgun approach to where you buy?

Some questions for the people with experience: What are some basic landlord problems I will most likely run into?

So depending on how much you pay for it, you can assess your cashflow.

My friend in Big Bear says it's basically vacant unless it's winter.

It will familiarize you with the basic terminology and benefits.

Some theming is basic and some is overdone, try to be unique or at least high quality, not a place you want to skimp.

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.