Hey @Benjamin Jones -  Fellow Japan-based investor here.  

Since you know what you need to buy it at and an average rehab cost, I would say $50-70k for a cosmetic flip, set the ARV based on the sample you choose and doing comps and ask them if they would invest in a deal similar to this. 

If you're targeting MFR properties in more affordable markets, these options could free up the funds you need without disrupting your cash flow too much.

As an aside, my laundry pods for the guests and liquid for the turnovers are "free and clear" and have never gotten a complaint.I have had guests break into my owner closets, but oddly never steal (they were kids probably looking for liquor). 

If you have any questions about market analysis or how to get started, feel free to reach out.

Quote from @Brandon Croucier: Financing a commercial MF that runs as an STR is possible.Appraising a property based on the income is not, whos to say a buyer would STR the property. 

I'm sure it was highway robbery - it certainly was based on the man-hours it took - but when you are in a desperate situation, you do what you have to do to get yourself out of it.  

Feel free to reach out anytime with questions or when you're closer to making plans—I’m here to help!

Do you know an approximation of how much the cost segregation with speed up the depreciation, ie 30% of depreciable base(price minus land)?

The cash flow that you need to achieve should be based off the rest of your portfolio and your financial situation as a whole.