as little rust as possible, check the wiring harness under the hood. early 80's 240's had insulation rot right off the wiring, make sure the heater fan doesn't squeal at all. they built the 240 around the blower, its a real pain to replace one. if you don't see any rust underneath, lift up the carpets and check from the inside, some years had leaky windshield rubber and they drip drip onto the floor rotting from the inside. basically rust rust rust are the 3 things you need to check for, everything else is parts and labour if your handy with a wrench. easy car to work on, even on the side of the road, once you do some work to them they handle real nice. i don't even think twice about milage if its been looked after, it it makes it past 200 000 its just broken in.

happy hunting, your hooked already from the sounds of it.