Quote from @Louis Hamilton: The property is worth around 800,000 and has no mortgage on it.

That being said, there won't be any down payment required since you have equity (you're guessing ~55,000 but I wasn't sure if you were meaning the property is ballpark worth ~$175,000, or more than that). 

Is it worth it for someone like me who hasn't done any deals yet, but is going to be making offers on my 1st investment property in the spring?

I considered suing for non-performance but felt the hassle of doing so would not be worth the benefit.I'm still hopeful and looking in the Flint market, I just would not use them to do so.

A contractor left a back door open one day and someone walked into the house and stole $2000 worth of tools.

The property is only worth what it is worth - what the seller needs to make is irrelevant.

If you're insuring a home to replacement cost, insurance companies don't care about appraisals or what the home is worth.  

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

Is spending thousands on a sprinkler system worth it or do I have other options? 

Was it worth it?