The '86 DL I just sent to the junkyard was a money pit.
Timing belt
alternator w/ constant grounding problems
shocks
ball joints
The whole laundry list. Eventually the electric system went totally to crap. Headlights, AC, interior lights stopped working.
The engine is bulletproof but the associated equipment, air valves, vacuum system don't last long.
If you realy have your mind set on a volvo maybe a GL?
Go to Matthews Volvo Site and look around there.
http://www.matthewsvolvosite.com/
If it was me I would look for a 300D.
Danny