Cultural area of Japan, tons of UNESCO World heritage listed sites, high barrier entry (less competition), shortage of hotels, lower penetration of China and international buyers.

I've used CNC Insurance and Heritage Risk Advisors and recommend both. 

Your cautionary point about not letting one's passion for their Italian heritage cloud their judgment/reminder to invest with the head and not the heart is well-taken.

Lot of prior European heritage family is purchasing real estate from the 1920 to 1960 and never sell, if the location is good, like in LA, bay area or mountain area, it can really help the next generation as real estate value grows much much faster than typical stock index especially if the asset location is good.

Jenny - American Heritage Credit Union has a 30 year option on Multifamily.

Background - Abusive Transactions Involving Charitable Contributions of EasementsIn recognition of our need to preserve our heritage, Congress allowed an income tax deduction for owners of significant property who give up certain rights of ownership to preserve their land or buildings for future generations."

The misinformation and negative claims probably have roots in the pockets of some very powerful entities.This adminstration has done a horrible job of selling the Act, IMO and those who wish to destroy him and this issue have done very well spinning the facts and that this all really began by the Heritage Foundation, a conservative group in the 90s.

There is a big governmental renovation plan in place for the old town, also against the background of the hope that the old town may become UNESCO world heritage.

I've used Diamond Heritage Inspections and have been happy with their service