The words "as-is" and "rebuilt title" would steer me very clear of that car. I would spend a few thousand more and get a clean version. As the repairs on this one could go well above a few thousand. The only way I would consider this car would be as a parts car where I was going to transplant that engine.
Edit: So, in keeping with the theme of this thread, Someone should.....buy this and transplant the m62 into an e30