Paul,
Welcome to the club. You are taking that step the rest of us took at one time. While you are in AZ, if the plane in question spent its life in the desert, chances are corrosion won't be an issue. As for looking at a potential aircraft, one thing that sneaks up on people is 'lack of documentation' for prior maintenance and especially, ADs. This is where I'm leery of 'airplane sold with fresh annual'. Yeah its been deemed airworthy for a year but what happens in a year when your IA does the annual on a 40+yr old airplane he's never seen before.
The 'pre-buy' inspection is crucial and you have to find someone you trust. I was lucky, I work with a bunch of A&P/IAs that own airplanes so I told them that I'm hiring you to find a reason NOT to buy this airplane. I was fortunate that my airplane was pretty much in order. Even as an A&P myself, I hired an unbiased opinion, second set of eyes.
Expect to rule out a bunch of planes before you settle on one... Some of the questions you can ask over the phone would be:
Was it ever a trainer?
Is the plane flown regularly?
Is there any damage history?
Has it ever sat idle for an extended period of time?
When was the last engine overhaul, as in calendar date. Was it field or factory overhaul?
Any cylinder replacements since last overhaul?
What are the latest compression readings.
Others can add to the questions you can ask, and regardless of the answers, none are a dealbreaker... It just paints a better picture of what you're looking at, therefore what you'd pay for it. It's more about what the airplane is worth and paying a fair price than buying a lemon.
The answers for my plane to the Qs above...
Yes, in the 60@ thru early 80s.
No, maybe 15hrs/yr, but flown about 80hrs/yr now
No
Yes, 7yr gap in logbook, airplane was a ramp queen
Field OH
All 4 cylinders replaced since overhaul.
Low-mid 70s, about 240hrs now on factory new cylinders.
The thing is, its all documented so I knew what I was buying.... These airplanes are old, a bunch of mechanics have had their meathooks all thru them, tough to find a creampuff...
