The turnkey is not relevant, but the concept is DEFERRED MAINTENANCE - - let the next owner eat the expenses. 

For my duplexes I simply eat that cost and set my rents to account for it.

., painting/touch-ups, and finding a new tenant. 4% vacancy equates to about 15 days, so if you do everything right and find a tenant ready to move in Feb. 15th, that eats up your vacancy allowance right there.

I can probably pull that together but it pretty much eats up all my reserves for emergencies and repairs to the units as they are not in need of repair but certainly dated.

That's what happens to most.2 payments in the driveway, eating out, vacationing -  too comfortable.  

The additional time, complexity and  money I have to spend to drive to a more distant neighborhood in Milwaukee eats up the perceived benefits.

The numbers will always seem better in these marginal neighborhoods, but these hidden costs (i.e. move out repairs, etc.) can add up a lot and eat into your final profits. 

However, because we are all so "wholesome" and "family-oriented", these clubs are continuously under attack for doing just what they are meant to do.

The one thing that's going to eat away at my return is the condo association fee.

Relax, eat and drink loads because in 2017 there's much work ahead.