It's also possible there's an addendum to the Trust changing that provision which contacting the other Trustee's should identify.Assuming there's no exception in your title policy for problems with the Trustee's conveyance, if one of the other Trustee, or even a Beneficiary of the Trust, claims the signing Trustee either did not have authority to convey or exceeded their authority, the claim should be a covered matter. 

We leveraged another property via a HELOC to cover all down payment and closing costs, so we had nothing out of pocket.

They do cover pretty much everything and offer amenities but they control what you can/can't do. 

I negotiated almost $20k in concessions under the impression I would be able to not only cover my closing costs but also cover some initial repairs or a portion of my down payment.

Rent will cover about half the house payment.

It should cover things like:Pet type, breed, weight, and number allowed.Tenant responsibilities for waste removal, noise, and pet behavior.Provisions for professional cleaning upon move-out.Indemnification clauses.Need a Pet Addendum?

As to funds - what's the worst that can happen that won't be covered by insurance?

tell them to contact their insurance policy and renters insurance will cover it.

.: A month ago I got a letter that my insurance company Farmers is discontinuing the cover I have but their partner Foremost will pick up my policy and I will be getting a letter from them with the new policy.To no surprise the new policy is more expensive.

And how much is covered by insurance.Mike