Re: What to look for?
It's very likely that it will need a new transom and possibly a new tank if both of those are still original. That, and be aware that the original floor level is right at sea level. I had a 1977 18' and doubt the '78 version bails any better (or at all as was my case). If you are comfortable with those aspects of the boat and it has a clean title from the seller, it's a neat little boat.
If you get it, I would suggest re-plumbing the forward drain hole (in the fish box) back to a macerator or pump in the bilge as it is below waterline when you are anywhere close enough to open the drain to let the water out.
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