I currently work as a Relationship Manager in Canada but I've been considering moving back and establishing the real estate investment portfolio that I've always dreamed of. 

You have to establish a healthy relationship with money.

@Angela Costa you should research working with a financial advisor as @Jeff Nash is stating no one on the forum can provide comprehensive planning and personalized advice you need to work with a real financial professional.  

If you have the ability to purchase a duplex for 600k, there are plenty of well established areas I would put my money into.

My intention is to establish positive communication with the current tenant while respecting their existing lease agreement, with no plans of requesting them to vacate.I would greatly appreciate any insights, suggestions, or advice you might have regarding reaching out to the tenant, drafting a letter, and managing this transition smoothly.Thank you in advance for your assistance.Best regards,

While a single-member LLC usually supports a 1031 exchange, it's super important to talk to a tax advisor for personal advice on meeting all the rules and handling any possible tax impacts.

Pretty much all residential lease agreement start with something like "this lease agreement [] between [] LANDLORD and [] TENANT..." which establishes such business relationship for the purpose of leasing / renting LANDLORD's property (in other words, TENANT Is willingly entering into a financial/business transaction with LANDLORD, _not_ a property manager2.

In my opinion, your offer price & value add should be based on the ROI target or hurdle rate you've established for your business. 

Networking is a two-way street, and by offering value and being proactive, you can establish meaningful connections in the Austin real estate community.

Although it takes time to establish relationships, a mentor's advice and insights may be quite helpful as you embark on your first fix-and-flip project in Texas.