What does “bad news” here mean?

What's "take on" mean?

To "take on" something means to undertake or accept a task or responsibility, usually one that is difficult. Thus, "if you take on an obligation" here means "if you undertake/accept an obligation." Ex: I am ready to take on the role of being a business owner Ex: I think I took on too many responsibilities at work, so I am stressed.

What does "turn out" mean?

"Turns out" is a "filler" phrase used to create suspense when someone is going to share something surprising.

What is the meaning of "throw on"? Or is "throw on a disguise" an expression?

To "throw on [something]" is an informal expression often used when referring to the action of putting something, like clothes, on one's body. In this case, you can understand "throw on a disguise" as meaning "wore/put on/used a disguise." The use of "throw on" is not just limited to the wearing of a disguise, but other types of apparel as well. Ex: It's not cold outside, just throw on (put on/wear) a jacket! Ex: You can dress up a simple t-shirt by throwing on a blazer on top. Ex: The thief threw on a disguise before robbing the bank. You can also use "throw on" to refer to the action of putting something on top of something. Ex: Throw on some cherries on top of the cake for decoration. Ex: I threw some burgers on the barbecue for lunch.

Do you make "it" as a silent syllable when saying "here it is"? It is hard to hear "it" in the middle.

The speaker has not made "it" silent in this sentence. "It" is only one syllable and may be hard to pick out sometimes. The speaker slurs his words a bit, so it sounds more like "hereit is" with "hereit" sounding like one word, rather than "here it is."

What does the "hustle" mean? Could you give me some examples?

Here, "hustle" means a fraud or dishonest way of making money. It can also mean busy movement and activity or to force someone to move hurriedly in a certain direction. There's also something called "hustle culture," which means to work a lot and push yourself to succeed, even if it has a negative effect. Here, they're saying a plan or way to make money dishonestly. Ex: The hustle of the city was too much for me. Ex: He hustled his way into the music industry. Ex: I don't want to be apart of your hustle.