House inspections shows bad spray insulation and termites in metal shed

Hey guys,

We're in the process of buying a house but this came up. This is a full metal shop and my biggest doubt with this is the spray insulation that has been used? It looks pretty bad and it's seems to be falling off.

I researched about this and to put in new spray on insulation I think we're looking at 2-3k for new insulation. I found it to be a lot for us at the moment since we have more costs. So I was wondering if there is an easier solution for this since I don't necessarily need an insulated shop.

Mostly the cosmetics of it bother me. Can I just scrape it off and maybe paint something over it so it looks better?

Also all the wooden cabinets in there have termites in them. But for around 300 dollars we can get them handled so that's not the biggest worry I think?

Thanks!