Not saying they all fall within this category, but many do so I don't necessarily agree there will be direct competition shutting them out of the business. 

Looking to get into some smaller apartment buildings in the near future.As far as the difficulties of investing in Japan, I of course agree with everything said, but in my case I'm at near-native fluency and own and manage my own business separate from anything real estate related so even without permanent residency I've never had trouble getting a loan (except of course I can't get some govt backed ones like a primary residence mortgage) for business or investing.I'll try to get in touch with everyone local to よろしくお願いします。

After all, you have no evidence they agreed to pay rent or any of the other terms.

It is somewhat complex to try to explain on a forum, but at a high level, you (aka GP) and your family member (aka LP) would agree on how much the 2 of you would put in for the amount of equity needed (usually expressed as a %).

@Jaren Taylor, not sure if this is why you talk about raising all cash, but given most deals are trading in the 5% cap rate range, and agency debt is 6.5% while balance sheet debt is closer to 7%, I whole heartedly agree that all cash is the ideal capital structure for many properties today, if your goal is to maximize overall returns for your investors.  

I agree.

Couldn't agree more. 

Agree w/ @Denver McClureTime change can be factored in for communication, but besides that it doesn't matter. 

Hey Alec, agree with @Jake Baker.

C-class for cash flow)I agree with @Evan Polaski that you need to know the market inside and out before you invest.