Advice on buying this Fazer?

[Falcon 269]

A 2001/2002 Fazer 1000 for £1500 is likely to be a chancy buy, IMHO.  One in decent in nick that's been looked after will command a higher price.  This sounds like a classic case of you get what you pay for, which looks likely to be a poorly-maintained bike that could be hiding a host of other problems.

If your budget is limited, does it make sense to buy into an unknown number of issues which could end up costing you a lot more in the long run?