Should I buy 87 300TD, or leave it alone?

[oniondip1]

Hello to all,
I recently sold my car to shed a payment...baby needs formula is what I'm told. I have been looking at getting into a diesel for some time due to the fuel economy and the ability to burn WVO and/or Biodiesel. The only problem is that I know nothing about diesel mechanics. I am a confident, sometimes over ambitious shadetree mechanic, and I don't want to bite off more than I can chew. I understand how diesel engines work, but don't know about the Mercedes common problem areas/quirks.

I have a chance to buy an 87 300TD with 300,000+ miles, rough body, supposedly good mechanicals. The owner is a Mercedes mechanic, he said it needed rear subframe bushings and some exhaust work.

Would a car like this have life left in it, or will I quickly spend more than my old car payment in repairs? Any thoughts or opinions would be greatly appreciated. Thanks in advance.