I have been debating between what would make most sense , a place that within 1-2 years I can move out of and turn into an LTR for another asset, or a place that I use as a live-in flip, with issues that are cosmetic, maybe updating things, but nothing major (planned for).

I might do some cosmetic work such as paint and flooring, and the biggest cap ex will be the HVAC in each unit over time (units are getting older).

cosmetic mianly, I also added insulation, upgraded the windows.

Other than that there is not much to look out for other than what would be already included in routine inspections. 

From starting my career in property management to now owning several real estate companies and operating as an active investor, developer, and real estate agent, here is some of the best advice I can give you from direct experience regarding how to mitigate and manage home repair costs:Conduct Routine Inspections:Where my best advice (for numerous reasons) is to hire a reputable property manager to help manage your investments, at a minimum ensure you have someone perform routine site inspections at all of your investment properties.

First step is to find the time by either time boxing your schedule or morning routines.

May be a cosmetic kitchen rehab during tenant turnover and HVAC in 1-2 years.

I am open to considering BRRRR but prefer that that the rehab is primarily cosmetic, versus structural. 

You might try it where you live starting with a cosmetic flip. 

Those whom I know manage OOS flips do cosmetic only and turn their realtor in to a project manager with the promise of the listing of the ARV flip.