Please watch the following video I made for you. I know, I know, it's too long, but just watch it.
Note how I set up my sketch, and later change it to control the things I want controlled in the way I want them controlled. Note that I set my sheet metal thickness to 1/8", and then matched the overlap spacing with an extra thousandth to prevent self-intersecting geometry. Note how I messed with the exact length of the overlap by controlling an angle, such that the corner of the underlapping end wouldn't intersect the inside radius of the overlapping end's bend.
You'll see me get warnings/errors, mostly based on the fact that my dimensions would result in self-intersecting geometry. So I use a bit of trial and error to get what I want. Notice how I change from a Side1 flange to a Side2 flange, to get the outside diameter I want, and then adjust the other values to correct for the geometry change.
https://knowledge.autodesk.com/community/screencast/c1ba777b-73d2-47a5-afcd-664f59eebda4