I have used this 50 dollar tent on a couple multi night trips on the AT: River Country Products Trekker One

1) I bought a ten dollar tube of seam seal and sealed it before I used it.

2) There will be some condensation. Thankfully it's mesh on two sides so the only places you can bump it is your head and sleeping bag foot box. I put my waterproof sleeping bag stuff sack between the toe box and tent to keep it from getting wet.

3) This tent survived 40 mph gusts on Roan mountain and didn't leak.

4) 2.5 lbs is not ultralight but light enough for 50 bucks.

5) It uses 1 trekking pole to stand up, and it comes with stakes. I have Cascade Mountain Tech trekking pole sets - $45 for carbon fiber and $23 for aluminum. Both sets work well for me but carbon fiber ones are lighter obviously.