In reality if you budgeted for every single thing you would probably not buy anything.

If you do have aluminum wiring, think hard about rewiring, at least for the circuits that have it.There is no visible outlet near the sink in the bathroom - this is required by code. 

So I have a few questions for the community, which I hope can be answered with some real world experiences to help me better understand the realities of the market.

thanks guys for all the advice i understand that what i asked for was a handout and honestly that was not what i wanted to do but i will continue to work towards my "dream" becoming more of a reality. i will continue my education in this thanks again.

Or do they jack up banks fees or charge higher interest to make up for the losses they take on borrowers who need to face reality when they can't afford their house anymore?

As part of performing due diligence, I did notice that the rent estimates listed on Zillow might be slightly higher than reality.

In reality, yes, it may be a little cheaper, though the cost is likely nominal, and probably not worth your time to be quite honest going back and forth. 

They can sink you because you don't make money until you sell.

In reality, the termite damage we've experienced has always been contained to a portion (or two) of the house, was easily repaired with new framing, and wasn't a headache because we were already demolishing to the studs.In your shoes, I'd prefer to handle the remediation instead of the seller doing that work.

So it’s falling on me to sink or swim