An emergency fund will serve as your cushion, and your investment funds should be enough to cover all of these "unexpected" investments. 

Once you know the houses in your area pretty well, using those 25 components makes it a lot easier to estimate back-of-the-napkin.For example, I know that for a specific type of four bedroom, two bath house in my area, it costs about $2,000 for all new electrical fixtures, about $2,000 for all new plumbing fixtures, about $3,000 for interior paint, about $7,000 for new flooring, about $8,000 for new cabinets and countertops, about $2,500 for all new appliances and about $1,000 for miscellaneous cosmetic stuff.So, when I walk into one of those houses, I know right off the bat that I will spend about $25,000 for a full cosmetic rehab.But that exact same scope of work for a different type of house with different finishes in another state where I rehab would cost much different for a cosmetic rehab. 

All the seg does is break out the different components of a property and depreciates them based on their life spans as opposed to the overall property's of 27.5 (for residential).

The difference is that with turn-key the company usually buys the property up front, fixes it up, rents it out and then sells it to the investor.There is also a component of this with some project managers and/or property managers.

Owning rental property is full of unexpected expenses, some can be costly.

If your still thinking about the appreciation component of it you should stay in Peel Halton York.. $800k you can find something..You can get in Burlington a rare duplex with basement so 3 units..

Any components I should look for in my bids?

Don't pay yourself until the savings account has enough in it to cover major unexpected events.

So without more info on the property (address or at least zip code, age of the property, condition of the various components such as roof and foundation, among other things), it will be hard for others to gauge the reasonableness of these assumptions or provide specific feedback. 

Which means if I’m buying from turnkey I lose any instant equity, but it doesn’t mean I have to lose the next few years equity upfrontSecond, I don’t see this as legit, because that wasn’t mentioned upfront, we went through a series of emails over the span of 20 days, and I already ran the number using the inputs I have, adding an unexpected $10K in an 8 pages contract which you haven’t mentioned anything about is not a good sign, and it will also affect the COC greatly since the purchase price is $130K and the down payment is $32k, that’s almost 30% of the investment cash