A lot depends how mechanically inclined you are. I bought my Jayco within your budget including the wdh and it was in excellent cosmetic condition (a big reason why I picked this one). That said, it needed a lot of little things done to make it ready. Other than new tires, none of it was expensive, but many of the issues might catch out someone who might not have a lot of "fix-it" experience.
A prime example was a leak around the air conditioner. The clueless previous owners had gooped up all around the unit with everything from latex caulk to silicone to expanding foam(!). Fortunately, it was stored indoors so there had been very little actual water intrusion. All that was required to fix this was to remove all the cr*p they tried, verify that the gasket was good and properly tighten the unit down. No more leak.
It had a brand new battery, but nothing worked. Fuseholder at the battery was corroded. Easy fix.
Toilet had been disconnected because it leaked. Replaced the valve for less than 20 bucks.
And so on. I do all my own work (including mounting the new tires) so none of these issues were a big deal or costly. I now own a fully functioning, large, comfortable trailer that most people who see it don't believe it's a '94. (Maybe someday I'll post some pics, but I'd have to wash it first;))