And they sell lots of them.My issue with them is that from a quick look it looks like they're selling everything at a 20-30% premium (which I understand and respect).

The average for the U.S. in the third quarter was a 28.7% return on investment.It’s impossible to know what every flipper in the U.S. spent to remake homes but Attom said the 28.7% return is within a range that could be easily wiped out by renovation expenses, mortgage payments and property taxes.”My large last extensive rehab was a little unit and I spent over $100k and I have done quite a few rehabs (3 last year, so hopefully my cost is competitive with what can be achieved).  

If I had to pay my cleaners on top of the loss income it would impact even more as my cleaning fees range from $100 to $400 depending on the property.  

Quote from @Daniel Samandarov: With all due respect you are a novice real estate investor that is upset and frustrated with the standard UW process and wants to blame us for your inability to provide docs and requested items correctly.

For pure residential, ranging 0.5-2mio USD, I’m seeing something like 5-8% outside of central Tokyo vs 2-5% in central Tokyo. 

This puts the current market rents of $885–$925 per unit well within the affordable range, with room for modest increases post-renovation.I’ve also reviewed competing properties in the area; apartments seem to be listed between 975 -1000, and houses are listed between 1300-1900.

Houses here that are move in ready range from $200-300k.

Respect that.

And do you have a certain area of Memphis/KY that you're interested in and/or a price range of properties?

If you wanted to do a 1031 exchange down the road to use that equity and trade up then that'd be a good idea.The homes I’m looking at buying are in the 330,000-350,000 range.