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That truck is in horrible shape. It will be an issue down the line, and rust is pretty much impossible to fix yourself unless you are handy with a welder and a paint gun. Professionals won't touch it either. There's no way I'd recommend anyone ever buy a truck that looks that underneath unless it's a winter beater that will be going to the crusher soon.
You are in LA says your sig- find a truck that has lived it's life in CA, UT, TX, AZ, or NM.