Run away - most are considered hazmat sites and once on the map they are considered that to the EPA has confirmed that all contaminated soil & building materials have been removed and in a hazmat landfill -- you can only use a licensed contractor - it will big $$$$$$$ - property will be on top of the building & fire departments watch list

You have to till the soil, fertilize it, plant the seeds and water them before you can pick the harvest.

I am not a contractor so I don't even touch a house this old (and very rarely run into one this old in the Dallas area),,,that is the type of house you start to fix one thing, only to discover 3 other problems....I know in some parts of the country houses this old are 'normal',,,,they aren't in Texas,,heck after 100 years and the way the soil moves it probable needs to change it's address

First of all, determine the type of termites you have.Are they subterrainean termites that came up from the soil below? 

As for contingencies, it would depend on the lot, the location, are there any soils reports or anything that have been done on the property yet?

Dig holes bigger than you think you need and spend as much money on soil as you do the plant because it doesn't look like the yard is particularly lush and fertile.  

If you want to get a bit more upscale, look around Norcross, Sandy Springs, and Perimeter areas (north of city), or even East Cobb and/or Alpharetta (further north of city) where prices start to get into the $200K+ range (with REOs in the $100K+ range).Then there are the high-end areas in the city, like Druid Hills and Buckhead, where prices will rival what you're seeing in your area ($500K+, up to several million), as will the quality of the neighborhoods.This is the reason why investing out-of-state is difficult...without knowing the details of the MSA, it's very hard to make quick and qualified decisions.

The living room, hallway, and bedrooms all have a sandy texture on the wall unlike I have seen before.

But makes sense since they would require soils test, tons of inspections etc..I can not deal with the hassle.

I was moving along nicely(seeing approximately 5 properties a week) but then I got slammed pretty hard by Hurricane Sandy (I live in Hoboken, NJ).