With regards to rust, I asked the seller to take pictures of the rust for me and I posted them above. Is that too much rust or is that normal? Its an east coast vehicles that experiences salt and winter and I want to play it safe!
I can't speak to what's normal on a T1N. I will say that it's not hard to find late model vehicles on the east coast only 2 or 3 years old that are already beginning to rust around the wheel arches, bottoms of the doors, or along the rocker panels. Road salt is hard on vehicles; if you're looking for a picture-perfect collector vehicle I would probably exclude all areas that salt their roads from your search.
In general, whenever you find rust there's always more than you can see. Hidden areas (behind glass or plastic trim) often retain more moisture which makes any rust behind them worse than the rust you can readily see. These are also likely to hide scratches due to window glass replacement or cracked paint from a minor fender bender where the rust can get a foothold.
In my experience, rust that is allowed to dry out fully (e.g. not behind paint) advances rather slowly, while trapped moisture is an accelerant.
Rust exists in several different stages:
Stage 1- superficial surface rust, can be sanded away easily
Stage 2- formation of light scale, bubbling begins beneath the paint surface
Stage 3- rust penetrates deeper and pinholes begin to form
Stage 4- crumbing, visible holes and structural compromise
It is most easily fixed in Stage 1. By stage 4, everything must be cut out and new metal welded in.
Repairing Stage 1 rust isn't too bad but it's easy to underestimate how much area you'll need to treat as you're likely to find more once you get started. The work is tedious and dirty.
All rust repairs will require painting to have a chance at success.. either touch-up, rattle can, or a full paint booth ($$).
I completely agree that the T1Ns seem like an awesome idea! Do you think that one with 150,000 miles is too much?
Not at all. Mileage is far from a perfect barometer of expected remaining lifetime. What matters is how well maintained and cared for the vehicle was during the miles it traveled, and whether it was abused or shoddily repaired over that time.
The amount of rust and vehicle mileage both factor into price. An '06 with less than 100k and no rust will in all probability cost more than one with 300k and some rust, but it doesn't mean the latter won't be a good vehicle.. there's just more demand for (and less supply of) the former.
(Edit: the rust in your photos looks to me like Stage 1 or 1.5)