I am not that familiar with the 126 cars, but it has the same engine that my '87 300D has, which is the 603. It's a 6 cyl. turbo engine that, with some very minor mods is a rocket ship. You should also see if it has the #14 head or not (mine does, but will not be a problem if you don't overheat the engine). Just about all reports I have read here say that the 126 is a dream to drive & gets fairly good MPG.

As far as what else to look for, the usual rust areas (jack-points, fenders, etc.) should be inspected. Others will chime in to add to what I have said.

Good luck!!

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1987 300DT
2002 Ford F-250 7.3 Crew Cab Short Bed