I've got an '87 with 218k miles that runs great (now!). Do a compression check, see if the head has been done.
Have a dealership to an inspection for purchase. They love these and you get a very clear idea what it would need.
I have never owned a 102 before the 87 and I really like it. A lot of fun to drive and with a few exceptions, easy to maintain. I think they are great. I hae been told repeatedly that there a many around with 300k+ and 400k+ miles on them.
If in doubt, become a student of the subject.
Keep us posted,
'03 E320 Wagon-Sold
'95 E320 Wagon-Went to Ex
'93 190E 2.6-Wrecked
'91 300E-Went to Ex
'65 911 Coupe (#302580)