I haven't role played on Oblivion before and I would like to try but first I would like to know if there are ant mods for it that would help/make it more fun or realistic?

Check the Roleplaying, and Immersion lists. You can find them here:
http://www.gamesas.com/index.php?showtopic=1010109

Quest mods that give you choices will also help like:
Integration: The Stranded Light
Malevolent
Windfall
The BlackWood Company
Ruin tail's tale
Maybe... Tears of the fiend (It kind of forces an origin story on your character)

Okay well I've found a few, ones that give things like real sleeping like you need to sleep and the same with hunger and thirst, I got one that changes the name gold to septims because I see people calling the septims a lot, one called bank of cyrodil that allows my gold to gain interest and store things in.