Not in a flood zone fema will only give her 26k or so to repair.

To me their value is in chasing down late rent and collecting late fees as well as being willing to post notices and arrange for repairs  In Minnesota I paid a full month for placement, but then just $89/mo on $2700 in rent.

Part of our california broker rules is that we are not allowed to discuss pricing, but I can give my recommendation to have a very detailed mgmt agreement in place with your owners  who takes care of Insurance payments, claims, repairs, tenant issues, HOA violations,  When do you pay the owners> Do you keep a reserve from them to pay for repairs?

Even though I am not the original owner, should I not be covered for any potential repair costs? 

After repairs, I am pretty confident that I can BRRRR completely out of it, leaving no money in the deal.

Highly recommend them and they're very easy to work with and can tailor to your needs from full hands on with all repairs to just managing and letting you deal with that aspect.

It would concern me if they can't or won't given you any kind of information at all, but perhaps that's normal.My takeaway though is that people are much more unpredictable than repairs.  

Although it is a new construction, your repair expenses might be minimal.

In the end they provided him with terrible quality work and the building was  discovered by the buyer/owners to have many defects and sued the seller in court and won a $1,750,000.00 award from the court.

Other homes in the area are going for about 175K in good repair.