I know I fund the deals and pay for the rehab . my clients put on brand new roofs  new panels all new wiring new plumbing windows siding cabinets etc etc..

Japanese people culturally like brand new and shiny products and you will have a small market of investors who won't touch unless you offer attractive yields.

Multiple people including myself have tried to caution him of the the true costs but he's been repeatedly dismissive and has made it clear we give him motivation and he wants to prove us all wrong (whatever that means). 

Part of considering acquiring a property should include additional possibilities.

These include drafting offering documents, adhering to ongoing disclosure rules, and audits, which can easily run tens or hundreds of thousands of dollars.

Both units rented at $1500/mo with all utilities included.

I'm trying to raise funds from my family and I am being asked to produce pro-forma scenarios at 2, 5, and 10 years which should include IRR and ROI.

Correct2. 100 hours could work if it's more than anyone else spent on the property including non-owners3.

Yes this is probably the best strategy for brand new people, but they need to study well and apply (like anything). 

By this point, they will have already thought about what might happen if you leave, including the need to turn over the unit and find a new renter.