If it's truly a texas truck...you might be in luck...as then it hopefully won't have the common 'northeast' frame rot so prevalent on many series...rot that also affects the firewall. Hopefully both frame and firewall are fairly clean, then.
Stuff to check:
Frame...firewall....clutch...clutch fluid...leaking wheel cylinders....master cylinder...shape of swivel balls - rusted?...check tie rod and other suspsion linkages for looseness...check if bad leaf springs....check underneath vehicle to see which drips are coming from where....check condition of hub seals...drive-shaft U-joints....
Listen to engine for timing chain skip and valve lash....decent carburetor?...clunking from tranny while shifting (besides the normal non-synchromesh 'clunk')...tightness of steering box/steering linkages while turning underway.
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1970 Series IIA 88".,...the REAL Chitty Chitty Bang Bang.