Re: Need advice on this possible purchase
Check the floor, stringers and transom as best as possible for rot if it is wood as many in that era are. In this market, you can purchase a lot of used boat for that money.
That brand is (was) a high end Bayliner, built with a bit more luxury than the bottom line but in the same factory. I won't venture an opinion as I know very little about them.
Any boat kicks up a wake if used improperly, you should have no problem if you pay attention to what you are doing. Heck, our old family Chris Craft inboard would kick up one heck of a wake just off idle and those are used on small lakes all over the country.
Just FYI, I have seen numerous I/O boats with wood transoms with serious issues. The wood was generally left bare and untreated around the cutout for the outdrive and the I/O configuration allows it to get wet. If there are any hull penetrations in that area, take a screw out and see what the wood inside is like.
Good luck.