I agree with the other comment of "what does he want to do with it?". Depending on how much money will be spent, and if its for a show restoration or to pull a hay rake, that can have a lot to do with it.
Goose makes some good points and things to check. The only thing I guess that tends to get expensive would be if you need to do any transmission bearing work. If there is one that you can take for a ride, see if it will stay in 5th. Sometimes if they were ground into high gear it pops out. Plenty of posts here about that and what is required to fix.
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