Is it this one?
http://alberta.kijiji.ca/c-ViewAdLargeImage?AdId=467147580&Keyword=toyota mr2
Everything Jlee has said.
Hard to tell from photos but doesnt look too bad around the wheel well. Look in the trunk down where the side lights are... if its wet and rusty in there, then it will rust out quick.
Burning oil is def a problem, but if you plan to swap then this might be decent car to start with. The selection of MR2's around these parts is fairly slim, I'd say for $1000 for that one would be doing ok if the body is not rotted out on the other side. You could try talking him down to $800, but Id try and find a good reason for it first. I bought my red 86 in similar condition for $600, but it had a spun rod bearing. And white is a good hiding color - it hides imperfections more easily than most other colors.
That engine bay looks like its clean and in good condition as well. ya, Id jump on if I had room and the body is good.
Is it out of province? If so it will most likely fail OPP inspection. If its an alberta registered car, its super easy to pass - pretty much only need lights, seatbelts, and brakes and it will pass lol. Find a mechanic friend and theyll pass it no prob.
If possible lift up the car and look at the bottom side. You will most likely need new floor pans. If you can weld, that is easy.
Ive never experienced the 5th gear pop out issue, so dont know what to say about it. I do have a spare C50 sitting in my garage in unknown condition though, if you want it.
...
hey... is that a hard top???
If it is, its worth $1000.
EDIT: ask him if its been in an accident, it looks like the front bumper was painted all white, while the rear bumper has black on it.