I do not live by crisis management but I do incorporate the unplanned expenses in the business model tough. 

If a project goes over budget due to say a unplanned event for septic or foundation issue will I get less return?

Yes, capex is squared away and this is truly a random unplanned profit.

Yeah good advice and with my price range I will have the money for the unplanned expenses. 

I think there can be too many chances for unplanned expenses even with the best TK property.  

In addition to what you see in this thread, I'd recommend adding a fat safety cushion to your budget for all unplanned expenses. 

@Danny Day  Reverend @Lucas Carl was kind enough not to mention a tenant overdosing in your vacation property, people cooking meth in your vacation property, people breaking in to your vacant vacation property for a free vacation and a free HDTV, an unplanned fatality in your vacation property, etc. 

The house I'm working on right now ended up getting 700-800 sq feet of unplanned new flooring (plus removing of that 700-800 sq feet of glued in laminate flooring) and a rebuilt cabinet due to water damage that was hidden by strategically placed furniture.  

Know the status of your Renters or you could wind up with unplanned vacancies.

I do not want my unplanned expenses to be someone else's profit center.There are additional questions to ask and other information to consider when evaluating a property manager.