Real-time quantitative precipitation estimation (QPE) from weather radar is essential for hydrological forecasting, flash flood warning systems, and water resource management. Despite significant advances in radar technology and signal processing, operational QPE systems face persistent challenges including non-meteorological clutter contamination, signal attenuation, vertical profile biases, and systematic errors that require integration with ground-based rain gauge networks. This review synthesizes recent developments in open-source frameworks for radar QPE, spanning the complete processing chain from raw signal correction to operative hydrological validation. We examine state-of-the-art methods for clutter removal (polarimetric fuzzy logic, CLEAN-AP, neural network quality control), C-band attenuation correction (self-consistent and KDP-based approaches), and vertical profile of reflectivity (VPR) correction for warm-rain events. We compare gauge-radar merging techniques including mean field bias adjustment, spatially variable corrections, Kriging with External Drift (KED), and Conditional Merging, with emphasis on real-time applicability and look-back window strategies. The review identifies key open-source Python libraries (wradlib, Py-ART, pySTEPS, radproc, weatherDataHarmonizer) and documents operational latency constraints for flash flood warning systems. A critical research gap is identified: current open-source solutions lack documented workflows for integrating delayed 24-hour manual gauge readings into real-time QPE streams while maintaining low latency. This review provides researchers and practitioners with a comprehensive roadmap for developing robust, open-source, real-time radar QPE systems suitable for operational hydrological applications.