ON THE OTHER SIDE, the liability and cost of fencing it in, as I would need to do, is a huge factor... 

A couple problems dividing a property and selling in a “Timely” manner and then picking exchange properties of equal or greater value than the lots you sale.  

I am a newer investor with a duplex and living in a SFH to eventually be a rental.

The project took 6-7 months, and while we made $143,585 when we sold the house for $560,000, we could have made close to the same amount in a few weeks with less hassle.The big takeaway?

I don't know that @Dave Foster earlier mention worked...I'll let him chime in as the expert, but you can 1031 for less it just results in 'boot' which is taxable.

I am in a similar boat as you, I currently have 5 properties about an hour north in Sheboygan County. 

So...Assuming we're considering the advantages for American's to invest in Japan, I personally think it only makes sense in a select few situations. 

I am in a similar situation.

In a stable free economy the natural tendency is for prices to go down not up.

I would reinvest in a another property and use a 1031 exchange to detour taxes.