How cheap is cheap?
I don't think delamination is possible for most to fix at a reasonable cost... But that doesn't always mean the unit is worthless. It may be possible to get many years of service out of it. I would look it over carefully to see if there is rot, if not, and it is servicable, and so cheap that I did not care if I never got any money out of it down the road..... I would consider it.
For instance. When I bought my house in a great neighborhood in 1991, my realtor dissed the house as it backed up to a busy street. Said I could expect a 5-10% hit on the price when I sold it.... I asked him if that was true of the price i was about to pay/bid then (it was a HUD auction home)... He said no, that I was actually getting it a lot cheaper than that. So at that time, I would not have been able to afford a house in that neighborhood that did not back up to that busy street. I won the bid, bought the house, and still live in it. Someday I will sell it.