The vessel is 26 years old.
Your question shouldn't be "what were any problems it had in the past" but "what are the problems you can expect in the immediate future".
So, in that regard, I will just tell you this: If that boat were a person, it would already be in the care of a Hospice.
I am not trying to be mean, nasty, or degrading here... In fact, I think buying a used boat over a new one is the very smartest way to buy a boat... and there are plenty of stastitics that prove most "experienced" boaters feel the same way. In fact, market studies that are paid for by New boat manufactrers and dealers - report that the more experience a boater has - the more unlikely he is to buy a "new" boat.
But, this boat is too old. It would be different if is had of been a top brand quality boat in the first place, but Bayliners have never been known for quality - especially so in the 80s.
If you want a good used boat you need to look for something in the 10 year old range. They offer great value and you can expect 5 more years of trouble free boating. And that's about as long as the average boater keeps a boat before buying another.
I just hate to see people loose their money on a bad boat buying experience.
This boat has a low NADA value of $1,290 - and that is based on good overall and good running condition. And my opinion is, that if this is all you can afford, then you certainly can not afford this boat. Save your money until you can comfortably afford a better boat.