I was wondering if there was a limit to the number of events that can be created on one property of Google Analytics. I'm aware that there's the 500 hits per session limitation for hits(including events) to be tracked and that there's the limitation of 10 million per month, but is there an actual limitation in the number you can create? (ie. you can only create 20 goals)
No documented limit, other than what you've already indicated. The only other limitation is this:
[Universal Analytics] Each analytics.js tracker object starts with 20 hits that are replenished at a rate of 2 hit per second. Applies to All hits except for ecommerce (item or transaction).
and
[Classic GA] Each ga.js tracker object starts with 10 hits that are replenished at a rate of 1 hit per second. Applies only to event type hits.
(Friendly reminder to be posting only coding questions on SO. Your question would be highly welcomed in Webmasters though!)