or some other natural unforeseen item?  

Would this qualify us for the unforeseen circumstances for capital gains exemptions? 

You can move out if you need to move for work reasons, if you are transferred due to military orders or for other unforeseen life events.

You will also want a bit of a cushion for the unforeseen things. 

You have to also remember it's an estimate so you will have a few unforeseen items which will cause a change order so you final rehab cost will prob end up higher

But as it's my first time going down this path I was hoping to avoid any "unforeseen" pitfalls that other investors may be able to share.

Due to some unforeseen circumstances, I had to move out and turn the home over to a property management company to rent out for 2 years.

With one property, that asset has 100% of the responsibility for supporting itself, but once you have other properties the likelihood of them being vacant at the same time, baring unforeseen circumstances or buying in a terrible neighborhood, having too high of rent ect, goes down.

We do not refund due to road conditions.We recognize that unforeseen events do occur, which is why we highly recommend trip Insurance, available when you make your reservation or most anytime before your arrival (restrictions apply.)

I would also suggest getting an LLC for every home you purchase and making a bank account for that specific property and defer from using the funds unless it is for that specific property that way your property's income is paying for all of the unforeseen costs you might incur as an investor.