Keep in mind banks still pool forclosed assets together and sell them all together as a group to one company.  

The homes don't have MLS sale history until they are listed after the rehab has been completed.If you don’t mind shaing, how are you financing your deals and do you do the work yourself?

Oklahoma as a whole has strong rental demand in many markets, just need to be mindful of the price-to-rent balance, as you mentioned.

When calculating your return, bear in mind you'll most likely have to pay 100% in cash to make it work.

Be mindful of a gift tax implications if you sell a house for less than FMV.Also be mindful of transactions between related parties when selling at a loss.

we ran into this in FLA  a few years back when I had 4 starts and I exited that market.. permits  sub base all pretty tough for someone who is not there and already knows the systems hands down and has a devoted loyal sub base.. thats the key in my mind.

Would love to talk some more about it if you would be open minded to the market?

Not having them can create issues when selling later.Over-improving for the Neighborhood – Be mindful of your area’s home values so you don’t invest more than you can recoup.Ignoring Structural & Mechanical Issues – While cosmetic updates are fun, addressing foundation, plumbing, electrical, and HVAC systems first will save headaches down the road.For the best return on investment, focus on:Kitchen & Bathrooms – These are the biggest value-adds for a home.

Getting an LLC in place from the start can provide peace of mind and give you a chance to familiarize yourself with the process before expanding your portfolio.

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.