Volkswagen: 71 westy, car person, nice project

Question
Hi there and thanks for your answers!  I am sort of shopping for a 71 westy and found one with a "rebuilt" engine, the owner says it doesn't need any major work.  What is a rebuilt engine?  

There seems to be some rust in the pictures, how much should I worry about this rust?  Does it look bad?

And is 3k a good price for this car?

What other questions should I worry about?  I am not a car person and I just take my cars to my mechanic and do what he says.

- Mike

ps the ad for the car is here:  http://www.thesamba.com/vw/classifieds/detail.php?id=488481


Answer
Mike,
My opinion is that is looks pretty good for it's age, and the price is fair.

The rebuilt engine seems fine from what I could see.  Basically, what you would do with that motor is put on all the 'other' parts to get it running. (i.e. the good outside parts on the existing engine - carb, fan, alternator, fuel pump, etc.)

Needs some TLC, but the underbody looks good and should be a nice project.

Best of luck.

Ron