Too bad about the commercial requirement. I'm about 1.5 flight hrs from most of NJ. Just flew there a few weeks ago for a family party. My insurance company states that I have coverage in other than my plane including up to $50,000 hull for rented or borrowed planes. What would concern me would be making sure that the 152 was currently in annual with no airworthiness issues.
Thank you very much for all your comments. I finally decided not to buy that particular airplane but I will keep in mind all your viewpoints when I finally buy an airplane and need someone to fly it home.