Monday 6/20, I get a call that the 3rd floor tub is leaking into the 2nd floor bathroom--- Action: I go to the property to access the problem and uncover a non-supporting tub (the boards supporting the tub are rotted out/non existent) and severe water/mold damage to the subfloor of the entire bathroom.

There are some companies that specialize in finding business owners lines of credit if you don't want to take the time to uncover every stone to find them yourself

Is my thinking flawed?

The more information that you can uncover, the better off you will find yourself.

After living in the property for a year, I’d find another duplex to move into, acquiring a new FHA loan and renting out the second side of the duplex I had just been living in, thus acquiring one new property per year.Anyone with any experience or any tips/flaws in my current plan, please reach out!!

I'm starting to see the flaw in the plan now, I guess a property could at least offset some of the costs of living in state.  

Try to understand cap rate.Your understanding of market is deeply flawed (or skewed).There's distribution of rent that at certain rent price (les say 5K rent) it is making more sense for the renter to buy their own house.

No number remains uncovered.

Josh: My suggestion is to leave the post or record the post on a special forum with all the facts we uncovered.

One flaw about averages.