Then you need to bid fair market value, not appropriate the bid to take into account the STR revenue but more so LTR.

Without my wife's direct involvement, I think some of our homes would have struggled to stay afloat.   

Sometimes occupants still live there and eviction is not easy, and I have even heard a story once that the yakuza are involved in the construction and real estate business and exorted money from buyers through occupants in these properties. 

Make sure that your tax accountant understands this. 

I’ve got her dealing with 8 properties which have individual accounts.

First mortgages involves loss mitigation (occupied 1st) and asset management (vacant 1st).

Be very careful who you take advice from online, you should get involved with a local attorney and a local realtor.

It's just going to cost you quite a bit of money to have your accountant prep all of them.

However, a good real estate accountant is worth what you pay them because they will save you time and money. 

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.