I'd definitely go lowball on it. The amount of rust holes you can see, and the fact that the fenders are rusting through from the back side indicates that there is a LOT more cancer behind there that you can't see.

But if you can get it cheaply enough, and don't mind doing a lot of rust remediation work, you could have a "cheap" daily driver. Of course, as others around here will tell you, there's nothing more expensive than a cheap Mercedes...

__________________
1984 300 Coupe TurboDiesel
Silver blue paint over navy blue interior
2nd owner & 2nd engine in an otherwise
99% original unmolested car
~210k miles on the clock

1986 Ford F250 4x4 Supercab
Charcoal & blue two tone paint over burgundy interior
Banks turbo, DRW, ZF-5 & SMF conversion
152k on the clock - actual mileage unknown

Good advice everyone. Keep it coming! I'll try lowballing tomorrow. Problem is I want a coupe project and not many around. I don't mind doing some rust repair as I want to brush up on those skills anyway. I just hope my naivete isn't overriding my good sense. It probably is, as usual.

Regarding the other issues I mentioned...no dealbreakers there? I can't tell you guys how much I appreciate your advice and experience. If I get this, please accept my apology in advance for bugging this board to death.