Originally Posted by 98tacoma27
Yes, the 2.4 typically came in the 5-lug (non-4x4 suspension). The 4x4 suspension trucks will have a 2.7 or 3.4 (V6). The one thing to look at on that particular model/year is the frame. There is a huge frame rust issue going on right now.
^^^ Rust is usually an issue in areas where there is a lot of snow and salt is used on the roads. Where has this truck lived? If you search this site for "frame rust," you will quickly learn a lot about this issue and the frame replacement/buyback programs. I do not have direct expereince with this issue. I belive it is stickied under 1st gen.
Is the suspension original? Shocks and springs? These are notorious for weak OEM design, and at that mileage, they are likely toast if he hasn't replaced them. Seach the Suspension threads for "leaf springs," and you will also learn a lot quickly. Basically, it makes sense to replace them with superior aftermarket parts. Many choices are available depending on your budget and how you plan to use your truck. In fact, the variety is staggering. I do have direct experience with this.
I think these are the two big issues to be aware of.
Caution: you are about to learn a lot quickly and spend the next 72 hours on this site! It's awesome!