I work on my own cars as much as I can (thermostat replacements, brake jobs, wheel bearings/hubs etc) I'm learning as I go. I have found the limiting factor for me is usually tools, not skill. There is so much information available online that you can find what you need to learn what you need to do, but I usually end up having to buy a tool or tools to get the job done. I'm very slowly accumulating the tools I need for most jobs. Having a garage to store all this stuff is a necessity for being able to do bigger jobs on a truck like this. The only thing that worries me is that damn ABS pump....
IMO I would not buy an old LC if I wasn't going to plan to work on it myself for at least small to medium jobs. Labor is so expensive it just wouldn't make sense to put that much money into a 10-12k truck. For instance, a wheel hub replacement on my wife's van would have probably been at least $400, and I did it for $100 in parts plus about $70 in tools that I now have to do a similar job later.