I was thinking to put together an Investment Offering of sorts but wanted to get initial feedback from others on whether this is something that would be appealing as an Investment Offering or not. 

Make sure your agent has a firm hold on generating off-market deals that align with your personality, preference, reserves, and ability. 

I found this Duplex in Phoenix AZ and based on my initial calculations the cash-flow + cash/cash NOI appears to be really good.

So it sounds like I need to figure this initial involvement of the contractor as cost of analyzing deals. ...because if the contractor comes back with an estimate of repairs that is too high to make the deal attractive then I'd be out that fee for his service.

Condos purchased at retail in San Diego at such high LTV (95% LTV) do not have initial positive cash flow and typically have negative cash flow. 

Who is going to manage the properties and generate tax statements?

However I wouldn't mind trying it out to generate more income on a part time basis, while I'm still studying/reading real estate investing books.

In the initial rental period, it will have over $400 cash flow per month and 12% cash to cash return.

This way you can track initial listing prices...sold prices...days on market... square footage...average price sold per square footage, etc...A realtor wont like me saying it...but you can do a lot of educating of yourself by tracking this data and becoming intimately familiar with what is happening.

What did you budget initially?