Unless you're getting a really good deal, I'd look into getting a lower mileage engine.Bullitt said:
I'd look at, and replace if needed, all the gaskets/seals(front main seal, rear main seal, valve cover gasket) and the timing chains/tensioners.
I'd also recommend taking off the oil pan, cleaning it and put on a new gasket(using liquid gasket). This can also help you to tell what kind of condition the engine is in. I found a piece of metal in an engine I got once, which I was able to trace to the timing chain cover(the timing chain was eating into the cover b/c the tensioner was bad).
Also the other things 91sentra listed, myself I wouldn't bother with the head gasket unless you suspect it's bad.