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I owned a '74 E Model for 20 years.  I loved that airplane.  It had it's quirks though.  Things to look for - fuel leaks; have the tanks been re-sealed?  Prop - has it been replaced in accordance with the Hartzell A.D. on the hub?  Fuel selector valve - has it been overhauled and/or replaced; it tends to leak out the sump drain, drip, drip, drip.  Corrosion is an obvious look for that age of an aircraft.  Who has been maintaining it?  Any damage history?  Is the engine an IO-360A1A or has it been upgraded to the IO-360A3B6, the latter of which is a better engine.  Fuel sender gaskets - are they leaking?  Those are some basic items that you'll want to look into.

Posted

Please don't take this the wrong way... but the thing you should be looking for is a good MSC or Mooney specialist shop to do the pre-buy inspection. 

No prior to doing that, it can be very useful to find an experienced Mooney owner, like many on this forum, who lives in the area and can go give the plane a quick once over. Better yet, if you can go look at the plane with this person. 

As an example, I'm not an A&P but I have owned a couple of Mooneys and have been through many years of annuals, maintenance and upgrades. In other words, I've spent a shit ton of money on Mooneys over the last many years. If the Mooney you're interested in is in the Denver area, I'd be happy to go take a quick look at it and let you know what I think. There's no charge for this of course. If after that, you want to move forward, then it's time to get a proper Mooney shop to do the pre-buy inspection. After that inspection you'll be ready to make an informed decision on purchase.

Depending on where you are in the country, or where the airplane is, this community can recommend a Mooney shop to do the pre-buy. 

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