Congrats on the purchase.
You must have taken that picture today LOL

I think parking sensors should be an easy fix - i hear a lot of them get corroded and need to be cleaned... i know my car had this done around the same mileage.
As for the diagnostic tool - i think NCS and GT1 are the most commonly used...

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'06 X5 4.4i| (08/06 built date) | Executive Edition | Sport Package
'08 X3 (wife's ride) - Sold
'05 325i - Sold
'03 325i - Sold
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