JandDGreens, I think the issue here in CO with flood damaged cars is it's mostly outside our view to even think about it. We assume our vehicles aren't going to rust or have mold issues and a car that was submerged in hurricane seawater is going to have problems we never anticipate. Since coastal buyers are more savvy in this respect the unscrupulous sellers will dump them in places like CO.
Doubt that's a concern with this car, but I think that's what changingground is going after anyway.
I know someone who bought an 80 series with 500k on it as a toy to build and it's been a reliable vehicle for him. It wouldn't scare me to grab this 100 for $2300 but then again I wouldn't use it as a primary car. Do the standard old Cruiser checks, no frame rust through, no major failures and start tearing into it and restoring to whatever you want.
I'd plan for an engine and drivetrain overhaul sooner rather than later, even Land Cruisers don't last forever. Land Cruisers, even the modern 100 and 200 series, are one of the few platforms I feel are mileage independent as suitable bases. Something like this to me screams solid axle and diesel swap project.