You need to determine if coverage applies and if the repair amount is significant enough to justify a claim, $0 claims usually still count against you when shopping for insurance.

Making for a setup of non-closing buyers and a revolving door of damage repairs. 

Worse, the repair costs were crushing.

But, these are generally Not Fixers – Most sellers in this situation either:1) Have to sell quickly or2) Don’t have enough equity to cover real estate fees, closing costs and other fees or3) Don’t want to or can’t afford to do repairs and or don’t want to have people traipsing around their house4) Have bought another place and are carrying two mortgages or5) Lost a job or have a medical emergency, etc or6) Are in pre-foreclosure and have to do something quickly or7) Are inherited with a mortgage and can’t make the payment or8) Have a job transfer and need to sell quicklySo, we have the closing expenses and have to give some money to the seller, and start making payments on the loan.

Wow, you haven't provided quite enough to analyze this so I'm making assumptions.If you think this house is a solid comp, now you have an ARV.Zillow thinks that house would rent for $1,600If you could buy that house for $115 and it needs $45K in rehab, a hard money lender would probably lend you up to $175K which means, you could buy this house for nearly $0 out of pocket after closing costs and holding costs, assuming you have a good, ethical GC that can do this repair for you.I don't have full information, but it looks like your total loan payment (PITI) would be around $1,300 per month. 

In many cases people either look at renovation specific loan products (like FHA 203k or Fannie Mae Homestyle) or go with private or hard money options where the loan is based more on the after repair value and renovation plan.I work with a lending company and I’ve seen investors structure deals where the renovation budget is built into the financing.

Property has equity, no major repairs needed How did you find this deal and how did you negotiate it?

I refined the prompt to something more like this: I want you to pull comps for this property.

However, but they do a great job of hiding major repairs.  

Not super complex.Our repair people know how to work on hot tubs.