You have to take into consideration the location of the car. I was raised in that area (Port Orchard/Bremerton) and usually when a classic ends up on a lot in that area it is due to a Navy guy shipping out and not being able to sell it right away on Craigslist/little nickel (local want ads).
I'm not saying that all navy guys do a half *** job on cars but it is a navy town that has a certain kind of reputation (There is a local slogan for Kitsap county..."Kidnap county, come on vacation and leave on probation" ). Keep an eye open for over use of blue silicone sealer around the valve covers, intake, water pump. Bring a magnet with you (one of the business card types) and look for bondo in all the usual place. Most of the dealers in that area are P.O.S. scumbags. Take it for a good long test drive down 303, into Silverdale and back up Hwy 3, open her up real good on Hwy 3 and make sure there are no weird vibrations/sounds (just don't get nailed by the staters).
I agree with Slantsixdan, the resale red paint job kinda scares me.