What you are saying is assuming that everything looks and good does not consider any vacancy, especially unexpected vacancy and that the future times are going to be perfect. 

We may occasionally fall down, take unexpected turns, or even at times take a few steps back, but no one ever said this journey will be easy. 

Always nice to fill the knowledge bank with random, unexpected occurrences.

That so that last $20k can serve as a cash reserve - for unexpected CAPEX items (although, speaking for turnkey, this shouldn't come up for the first several years), for flights out to vet partners, whatever.

The two things I'm concerned with is 1) am I going to like doing this and 2) what happens when there is a long vacancy/unexpected costs.Any input is appreciated.Thanks!

Markets change, unexpected events occur, over the course of 5 years the FED can change the dynamics, and on and on.

But long story short - make sure you have the cash or access to cash to fund the unexpected.  

Moreover, and unexpectedly, City Waterproofing installed dura-wall panels throughout my basement.

If that is your first investing purchase have a contingency line item that will help to do the unexpected expense or it might be a gift. 

If the property is brand new you might get away with the first 5 years with minimal repairs but if it's older I'd plan for 30% to go towards repairs or unexpected expenses.