The insurance company simply said “once it falls, file a claim and we will pay for the repairs”.  

Are they also "reserving" monies for future major repairs?

This includes the following:Vacancy (minimum 8.34% to 10%)Tax (Check County records)Insurance (Get a quote)Property Management (10%)Utilities (contract utility companies)Repair/Maintenance (5% - 10%).

And he repaired the asphalt drive. 

The nature of the repairs will make a difference, if you are putting on a new roof replacing a leaky one that will increase value far more than a kitchen remodel. 

. - Ongoing Repairs - These can be highly variable, but in my portfolio, long term, I was spending $150-200 per unit per month.With about 2 hours of work you can be sure the numbers are spot on. 

I know it depends on the condition of the property and all of that, but the property appears to be in good condition and only in need of minor repairs initially. 

Her home is valued at 160 + after repairs and she owes 96k on the mortgage.

The property’s ARV is between 133-141k single family home with me setting out to view the property on Monday for a repair estimate.

Mtg/tax/ins/hoa is $1300 + vacancy, repairs, etc.