Any additional information just to help with the decision making process would be appreciated. 

In addition, start looking at deals immediately and get familiar with the numbers in certain areas and rehab costs.

You mentioned not wanting to invest a lot of money, and that's fine, but having additional capital may still be required.  

Being that you are in Japan that ads additional difficulties.  

Free cash of $1,300/month (the $1,150 you are currently paying in mortgage and utilities plus $150 cash) could then be used to pay towards principal on SL and car not, accelerating debt pay down.78% RR on 20k minus 5% avg SL and Car interest and 4% mortgage interest = IRR of 69%I think (assuming I'm looking at this the right way), using your 20K in cash soldiers to generate additional income is more advantageous than using it to pay down debt.

In addition, I'd own the liability of paying for stuff when it breaks, and my insurance would cost more.

Additional keywords: Indy, Indiana, Indianapolis

Additionally, I've been told ( and read on many sites) that if a junior lien holder is foreclosing... the senior lien is Not wiped out and the new owner becomes responsible for The entire amount owed on the home.  

If you have any additional questions and or concerns PM and I will be more than welcome to help.

Hello, I am looking to acquire additional long term rental assets but am running into issues finding a lender that will fund me due to the fact that I had a foreclosure 4-1/2 years ago.750 credit scoreGood incomePlenty in reservesLooking to acquire properties 180k and below with 20-30% down but haven't been able to find lending.Any suggestions?