If you find a deal that’s good enough, it’s possible to do something with $15k.You could also partner with someone who has good credit! 

Do you still see if this criteria is good enough for this market or need to look in other markets to meet the criteria?

and you want to fix it up then refinance your money out of it to do another deal.Ideally if you do your numbers right and your ARV correctly you'll end up with all of your original down payment and rehab money back + then some for the next deal.So in summary, if your ARV is not good enough to make your original cost + rehab at  75-80% or less LTV (loan to value) then you should probably just go the retail route with 203k/home style fannie mae loan.Now, if you can buy a great deal and use 203k or Home style as a refinance rehab option then that'd be a sweet strategy/hybrid play.

Even if it gets a little worn out they have rejuvinators that make it look good enough to rent.

The question for me is going to be if Tokyo is the best place to start as I have heard the returns here are good enough to justify the huge price tag. 

I found that was a good enough to do about a dozen deals per year but I kept hitting a ceiling around 12-15 transactions annually.  

If somehow that is not good enough, who is going to press charges on you (good luck talking to the bank)?

Single member LLC offers little asset protection anyway.If the deal is good enough, you have a few choices that immediately come to my mind:Take title in the LLC.

Do I have a system to handle this issue, am I protected, are my rules and regs good enough, how far should I go with updates, etc... lol Such a learning curve but after reading your post I am realizing that its one day at a time and evaluating the debits and credits every month as I shape and mold with the new experiences I gain...

from my research in investing so far my concern is that this deal isn't good enough and I should only be looking at properties that can turn a profit.