Wow. This is a lot to take in. Thanks everyone.
I'm a very stubborn person. I never pick the easy path. I have to take this into account whenever I have an insane idea that flies red flags for everyone but me. While I love restoration projects and have always wanted a vintage trailer, the truth is that I'm trying to save money on rent in Boulder, CO---it's hard to find anything under $1500/month for a dog-friendly private apartment. I thought I could fix this trailer up for full-timing and come out on the other side of my last year of grad school with a cool trailer instead of nothing to show for the $17000 shelled out in rent... And then sell it if I had to and recoup a little of the cost back. I don't expect to make money, but I can't afford to lose thousands either.
I still think it's in reasonable condition. I don't think it's worth $7000 USD because of where it's located for one, but also according to www.vintageairstream.com's
price guide (which the seller has been using incorrectly). It quotes an 'average' condition 1968
Overlander 26' as between 3500-6500 USD, defining average to include fully functioning appliances and water/electrical systems, no soft spots in the floor, and no more than a couple dents in the shell (among other things). While it's definitely better than 'as is' I would estimate it on the lower end of average, given that the fridge, furnace and water heater are broken, the water system is compromised due to a leak, the toilet is broken and the floor is rotting in the rear. I want to offer closer to $4000-5000 USD but he'll probably balk. We'll see!!!
Great advice about the pipes, Redleger, thank-you! Can I ask where your leak was??? Was the only way to get to it through the floor? There are plenty of avenues to access the pipes along most walls, inside cabinets and through outside panels but there are a couple spots in the bathroom I couldn't get at.