The rust appears mostly on the rear axle and above the tire carrier and hitch. This is generally where most of your rust issues will be and rust around those areas of the frame is expected due to retaining both salt and moisture from road spray. I had some rust up in there and my 80 was in Utah and CO 100% of it's life. For me those are no issue areas (as long as you cant push a finger through it). Rust scaling on the axle is obviously not very attractive but it's also not that big of deal being on the axle. Rust areas I am concerned with is up under the body, that would be a pain to fix but depending on how bad it is you can likely paint it as well to minimize further rusting.
Paint on frames and axles are kind of a double edged sword, on one hand paint can prevent further rusting but if not applied correctly or using the wrong type of paint or compound may actually trap moisture and make things worse.
Red Flags for me:
Leaking Birfs, probably needs a complete axle service.
Check Engine Light. This is OBD1 so the code will blink at you when you run diagnostics with a paperclip. This could be anything.
235k Miles - Likely close to needing a rebuild
Lockers don't work - Lockers probably just need the actuator rebuilt but again could be anything.
If it were me I would offer maybe, 6k with the expectation of putting in maybe another 6k worth of work and parts but hard to say without pics of the engine or the interior.
Paint on frames and axles are kind of a double edged sword, on one hand paint can prevent further rusting but if not applied correctly or using the wrong type of paint or compound may actually trap moisture and make things worse.
Red Flags for me:
Leaking Birfs, probably needs a complete axle service.
Check Engine Light. This is OBD1 so the code will blink at you when you run diagnostics with a paperclip. This could be anything.
235k Miles - Likely close to needing a rebuild
Lockers don't work - Lockers probably just need the actuator rebuilt but again could be anything.
If it were me I would offer maybe, 6k with the expectation of putting in maybe another 6k worth of work and parts but hard to say without pics of the engine or the interior.