Waterproof and doesn’t telegraph subfloor imperfections like thinner vinyl.

I fill any large imperfections in the face of the panels with quickset mud.Now that you've doubled back and really tightened everything(trims and all) with caulking it's on to paint.For a really high quality job you will want to spray/roll and back brush two coats of oil primer.

I also like to prime myself and then I go through each room with a halogen light to look for any small imperfections and I touch them up with mud and resand.

The location I like the best school district because people put up with imperfections in the house if the school districts rightI hope that thinking makes some senseAnd just because the seller is motivated for no equity deals the house better make some senseLastly there's a due on sale clause issue with a wrap and a sub too, so have an exit strategy in case the loan gets called

Each state has it's own laws so it's an imperfect market.

It is relative cheap, hides some stuff, but still has enough sheen to highlight the imperfections.

Drywall can be glued to the wall for the cheapest option but will telegraph all the wall imperfections. 

If you can not level and you have some imperfections that you can't just cover with vinyl tile try something like place and go tile. 

The more difficult the market is to understand the more you can take advantage of the imperfections in the market.

This looks like an older house, so get used to some imperfections.