I can see a fair amount of surface rust but nothing concerning, and compared to my old 80 it has near-zero rust. The main things I would wonder about is if it has seized the parking brake and if the spare tire (which is missing obviously) pulley/bracket can still be raised and lowered. It's not rust free but it looks OK to me. An after market bumper like the one from 4x4 Labs would replace that rear bumper cross member, which is where the most rust is.