Using a perturbation approach, we make rigorous the formal boundary layer asymptotic analysis of Turcotte, Spence and Bau from the early eighties for the vertical flow of an internally heated Boussinesq fluid in a vertical channel with viscous dissipation and pressure work. A key point in our proof is to establish the non-degeneracy of a special solution of the Painlevé-I transcendent. To this end, we relate this problem to recent studies for the ground states of the focusing nonlinear Schrödinger equation in an annulus. We also relate our result to a particular case of the well known Lazer-McKenna conjecture from nonlinear analysis.