Urgent - I need help

[Anna L.]

I purchased the small condo 3 months ago in Memphis are, and my first tenant moved in this month.

I spend amount of money for repair the unit.

Within a month after the tenant moved in, two issues happened already and today I got a call that main water pipe line has issue so the water is leaking from the ceiling and estimate $4000 to fix it. 

Can anyone answer the questions? 

1. I am not sure how the inspection company didn't find this major issue.

2. I got insurance last week, I am not sure if the insurance company will pay for that or should I call to HOA?

3. The management company didn't provide the quote in detail, they just say it will cost $3900. I am worried about their integrity. I experienced the same thing during the rehab. They didn't provide receipt or nothing, they just listed the items need to be fixed. Is this normal or what should I do with this? 

4. As a first time buyer of investment property with long distance, I am already exhausted with this headache and want to cry.  Anyone can share how you resolve all this issues and survive?

Thanks,

[Nathan Gesner]

Quote from @Anna L.:

It's not unusual to buy a property and have surprise maintenance issues pop up. It's not possible to see pipes inside the walls or ceilings, so it would be easy for an inspector to miss this.

Cut open the ceiling and remove sheetrock: $100

Repair leaking pipe: $200 - $300

Patch sheetrock, tape, texture, and paint: $1,000

There is no excuse for not giving you a written bid. I would demand they provide it to justify their pricing. I would also consider hiring your own contractor to see what they would charge (offer to pay them for one hour of time so they know you're serious).