You might be pleasantly surprised. I just bought a 1987 900 Turbo for $600 last week because the guy said the reverse gear was out. About 6 hours of work in the garage and I had the reverse fixed. It had the usual 900 problems (sagging headliner, cracked dash, worn drivers seat), but other than that it is in great shape. You can find decent 900's for bargain prices.
I'd check and make sure the turbo is strong and the tranny shifts smooth and doesn't whine in 5th. Oil leaks are usually a cheap fix if you can DIY. O-rings are cheap, just takes some time and patience to change em. Also check out the steering rack and see if it's leaking. Yank the dipstick and see if there's any antifreeze in the oil. Check expansion tank for oil in the antifreeze. Drive it and get into boost...see if any oil smoke comes out of exhaust. Those are the big things I usually look at when buying a project.
I'd check and make sure the turbo is strong and the tranny shifts smooth and doesn't whine in 5th. Oil leaks are usually a cheap fix if you can DIY. O-rings are cheap, just takes some time and patience to change em. Also check out the steering rack and see if it's leaking. Yank the dipstick and see if there's any antifreeze in the oil. Check expansion tank for oil in the antifreeze. Drive it and get into boost...see if any oil smoke comes out of exhaust. Those are the big things I usually look at when buying a project.