My own experience says look for the following:

	1) Pure stock, trivially smogable motor.
	2) Body rust/unrepaired damage/repaired damage.
		- get on a roller and completely inspect the
		  underside, looking for unrepaired or poorly repaired
		  body damage. Also loose/missing pieces & general 
		  maintenance condition.
	3) Pedal & master cylinder cover. There should be a 
	   metal cover under the pedals, parking brake mechanism, master
	   cylinder, etc. Splities and bay-windows both have this.
	4) Rust in battery compartment. With the owner's permission/help, 
	   remove the battery and inspect with a bright light. If the owner
	   won't let you do this, assume you have rust-through and adjust 
	   what you'll pay for it appropriately. $500 for an simple fix
	   at a body shop, less if you do the work yourself.
	5) Standing water anywhere inside the body- peel back all the 
	   rubber mats/carpets, check undersides of doors, hatches.
	6) Check the wheels/bearings by twist/shake method at least
	7) Open brake resivior and look at color of fluid. Clean? Full? Good.
	8) CV's clean and dry, look good? If the boot's torn, 
	   figure the CV is dead. (you may be lucky- I never have been)

	Remember that everything takes 3 times longer to fix and costs
4 times what you expected. Don't buy a slightly ratty car from someone 
who you think is just like you- if they were really just like you, they'd
fix it up, not sell it. Buy from someone who took as good care of it
as you'd *like* to.

	And this gets to why people sell cars with 1500 miles on the
rebuild. One day, Pat/Kim/Chris wakes up and the engine needs a rebuild.
1000 miles later the master cylinder lets go. Kim/Chris/Pat decides
that this pattern isn't good and determines to get rid of the vehicle
before something else breaks. They may be wrong, you may enjoy doing
the work yourself, or you may be looking at a concentration of entropy
so powerful it will empty your wallet, turn your friends away from
you and drive your family away too. The more you need it to drive 
every day, the nicer it should be. Indulge yourself. You're worth it.

	Find a car that's well maintained and hasn't recently needed
fixing, that the owner is selling because they're moving, or just
bought something YOU think is a better car, or just don't drive it
anymore.

	Above all, remember that there will always be another car,
at least as good, at least as cheap. NEVER buy something because
you think you'll never see another. NEVER buy something that isn't
what you want but you can 'live with'. If you spend $500 or more,
you should get something that *delights* you.  Something you'll talk
about all the next week.

	Good luck!
	Bill