In 2017 we built two rental homes on land that my parents own (they have 5 other rentals on this property). 

I currently rent from my parents and graduated from college 2 years ago.

If I am not staying open-minded, I would have lost it all.Be frugalI grew up in a middle-class family in China, and my parents are always frugal about their lifestyles.

Got my parent to co-sign on the loan and then the loan officer said I could only do conventional 75/25 LTV.

I did make $40 off that tenant by returning the beer cans he left behind, but the lesson I should have learned was that trailer and property had been paid off long before it was rented out and the maintenance was minimal so that money was earned for doing little work, especially compared to labor on the farm or my parents full time jobs.I discovered Bigger Pockets somewhat by accident.

My wife and I both did quite a bit of home renovations and landscaping growing up (her parents were custom home builders and my dad is the DIY type).

Might be helpful for background. (3) Some things to consider as you look into buying there: (i) do you have PR (permanent residency), without which you may not qualify for a loan; (ii) do you have personal ties to Japan (Japanese spouse, parents, etc); (iii) do you speak Japanese (which can also help in getting a loan); (iv) how much capital will you have as a down payment - I understand 20% is commonly required.Happy to address any specific questions you may have, so don't hesitate to shoot them my way.

I thought it would be a great idea to go to, however my parents are sceptical (I'm 16), but I think that it would be a great place to learn from pros and maybe even find a mentor, even though I have 0 experience.

Neil 5 years ago I had newborn twins in a house that had lead paint,, the parents were druggies and the state came in and told me I had to put them up in a hotel until the house was lead free.

You could propose back in your LOI what terms you want.Example:If tenant proposes:7 cap with 15 year primary term lease and rental increases of 8% every 5 years and a limited guarantee on the lease.You could counter in LOI 7.5 cap rate, 15 year lease with parent corporate guarantee and full personal recourse against them, 2% annual rental increases,etc.There are lot's of things to watch out for with properties like this.