When I received it here I had to have a trailer built, but I knew that going in. I also took it to a Mercruiser service place for a full service and inspection. It had just under 200 hours and there was some wear in the drives, needed a few bearings, etc. But no big surprises.
I would not be afraid to go that route again, but the trick is you have to be able to buy it right so you have some wiggle room. You can figure that if the previous owner lost it he probably wasn't spending money on maintenance at the end.