Based on all the advice here, it really depends on how bad you need a vehicle, or a vehicle of this size. From your picture, I can see rust in the rocker panel by the rear wheel. Thus tells me that the rest of the body isn't far behind and you could have brake or fuel line corrosion issues to deal with in the future.....which is a crappy job to do.
After working on rust buckets in the Midwest for years, I tend to run from vehicles that are exhibiting the start of rust. Plus, I hate how it looks and the difficulty of fixing it.......because you can never fix it permanently.
My advice would be: IF you NEED a vehicle like this, and this one has a verified maintenance history, it would probably get you by for a reasonable amount of time while still having to put some money in it initially, and potentially on a regular basis.
If you are looking for this type of vehicle and have the ability to wait it out and search other areas, you may find that spending a little more up front for a cleaner, lower mile vehicle will save you money and headaches in the future.
Personally I've had good luck buying used Denalis from OK and CA. No, or very little road salt, and a dryer climate.