Second, even though both units will need to be updated delay "cosmetic" repairs to your unit until you are ready to move out. 

We were shocked to learn that major surgery had been performed to the FOUNDATION just 11 months prior. 

I've generally bought places just needing cosmetic repairs where the landlords were absent.  

My current plan is to live in the duplex, make some cosmetic improvements (one side needed some work) and repeat. 

It sounds like you just need a cosmetic repair, and in that case, I think most of the time it's worth doing the repairs before flipping it.

@Ted Phelps sure, I am looking for a single family home with no foundation issues, that requires major cosmetic updates like a kitchen and bathroom makeover, flooring, painting etc

Of course if your plumbing to the STREET is brand new and you have new pex... you have new wiring new roof New mechanicals.. the rest of cosmetic if the house has good bones.. that helps for sure. its hard to make a case study with just one home.you could also have one were the tenant left at 5  months and did 5k of damage.or you could be buying in Dallas area and have your foundation go wonky and spend 3 to 5k fixing it .. which happens on almost all homes in that area. etc etc  some of this is regionalize for sure.

If this is a personal IRA, as soon as you open any type of business and become self employed, you can convert it to a solo 401K.You could open a Tupperware or Mary Kay Cosmetics business and then convert your IRA, so long as you work the new venture as a real business, trying to make money!

Price: 495KAmount needed to rehab: We are guessing about 12k for cosmetic landscaping and signage.

Start with a small flip, maybe something that doesn't require an extreme makeover but more of a cosmetic makeover.