Extensive termite joist damage

[Rigel Cable]

our general inspection report for a 1962 remodeled home in Atlanta came back with this termite damage. Home was vacant for 10 years apparently. Rest of home is brick/cinderblock ranch. 

“Numerous termite shelter tubes and resulting heavy damage to the floor joists and sub-floor boards were observed. Some reinforcement was provided with sistered-on boards, however, additional un-reinforced and unsupported floor joists and beams were observed. Several of the joists inside the crawlspace were over- notched with the drilling for wires. The concerns include the ability of the floors to handle both dead and live loads. Recommend immediate further evaluation and corrective action be made by a qualified licensed contractor.”

Of course we can work with seller to make repairs, but does this type of damage seem irreparable in the long term?

To add to issues for context, Home also has blown water main, no installed water pressure regulator, and lots of plumbing issues. (All of which we would have fixed by a licensed plumber at expense of seller.)

Walk? Advice?

We are first time home buyers with very small repairs budget for the near term. We love the house otherwise, but aren’t afraid to turn away!