I managed to get two out of four notes invested back.

VacationRentalDesk.com.It's a property management and direct booking website all in one.  

STR's are the most management intensive way to produce cash flow on a property and Tokyo is 9 hours ahead. 

You might start by finding a property management company that specializes in MTRs and ask them if they know of any Realtors who understand this niche.

Data shows people are flooding into outer burbs, which new construction is helping a great deal.

A Stanford study revealed that over 75% of the ADUs built in San Jose between 2016 and 2020 did not have a permit and are therefore illegal housing units.The lengthy permitting process, high construction costs, and shortage of tradespeople are some of the factors motivating property owners and contractors to take on the risk of building, renting to tenants, and/or housing family & friends in an illegal unit.

Do you self manage?

Once the 5 years runs out you'll have used up your existing available depreciation but you still get to write off other expenses such as maintenance, property management, legal fees, etc.

So, in this way I manage the portfolio has a business instead of managing each property as its own separate business.

To avoid escrow delays and tenant upset, I decided to stick with the prior management company.