This is one of those high-risk gambles that sometimes pan out, sometimes don't.
Overall I've encountered well over 50% winners but there's also been some $500 cars for example that were valueless. Worst was when I was a teen I paid $100 for the title to an old Mercedes that an acquaintance had parked at the ranch when he heard a rod knock. Opened it up and found the hardened steel timing chain, same material as a bicycle chain, had disintegrated and fine fragments had gouged every place lubed by oil. Don't recall but I think I had to give away that one free.
And an example of a winner - the Yanmar YM240 I've had 13 years now hasn't needed a thing since I spent an initial month back then remedying severe neglect and locating missing components - loose lugnuts, bashed headlights, unreliable ignition switch, plugged up hydraulic filter screen, dash warning lights dangling by my knee, Thermostart ($15 manifold heater) burned out, fuel filter assembly discarded and replaced by one for a lawnmower. I think a lot of people would have passed it up based on appearance. But it is fundamentally solid, it was just years behind on simple maintenance. Once I got it back conforming to spec that's all it ever needed to run like new. It still looks a little 'experienced'.
This gamble was a winner, I think buying a brand new tractor at that time would have had more spent on repairs by now compared to this.
I hope treedawg gets lucky with this YM2500. If he passes it up then somebody will eventually buy it, maybe we'll see someone else appear here with the same questions. It's definitely a high risk gamble.