Should I purchase this 86 560SEL?

[Asmig]

A freind of mine recently purchashed an 86 560 and has offered the car to me for very cheap (300 dollars) The problem is at the very least it needs a new starter, the car is not currently running. It has 213k miles and I have no idea on the maintainence history. The car is silver with a silver leather interior. It has a slight rust problem with the rear inside door seams, trunklid, and bumpers. I've read your forum archives and am worried about the transmission and timing belt. Really it seems like a great deal if I could find some records on the maintainence history of the car, but personaly I think it has not been well maintained over the years. I'm really thinking I should avoid this car or at the most fix it and do a quickturnaround on the car.