Hello, a guy just out of town has a 1985 supra comp ts6m sitting in his front yard. He wants 3,000 for it.

bads: motor will not start, 2 frost plugs have popped

Goods: great original interior, beautiful exterior, single owner (bought new), barefot boom

I said that $2,500 is my max to spend on a boat (college years) he asked for my number and he will get back to me.

I called around and found some things to go back and look for, water in the oil, compression test, pumps, stringer checks, engine mounts..

What do I need to look for that are red flags?
Is this a fair price at 2,500?
I am worried about the motor, he mentioned it has not run since 06... It has just been sitting.

What is best?
Please help- all the input i truly appreciate

-Podritz