This is pretty typical in value-add deals...not the strongest cash flow (sometimes none at all) in the first year and it ramps up from there.Funding capX out of cash flow is just a bad idea because the cash flow in the early years is already compromised due to the lower rents and if you don't have the money to do the improvements you never get out of the rut.There is another solution and that is to raise all the money in the beginning but don't call all of the capital at once. 

Creating a savings plan and budget for the purchase of a duplex, from my understanding the following expenses typically include what I have below,what else am I missing ?

We got calls/ texts (typically in the middle of the night), more like rants, for closet door off tracks, other tenants leaving toys out front, chalk marks on asphalt, leaves on lawn (typically gardener was there every 2 weeks), etc.  

Roman covered the typical broker fee. 

My lease also says I am authorized to show it to potential buyers or renters with proper notice.Some tenants fight this and I typically let it go because I know they'll sabotage any showings anyway.

Tenants typically will default in paying utilities before they default in paying rent.Introduce yourself and your management style as soon as you can.

I agree with Zach, most loans at $20K are typically put on a credit card or borrowed from family.

All interiors have the same paint color scheme. 

That sounds fairly typical.

Typically, second mortgage lien holder will foreclosures when the sale proceeds will cover both mortgage debts.