Although philosophically I hate rebodied cars, this one looks to be significantly better than most that are for sale. A large percentage of these are fright pigs -- half-assed conversions done in the eighties with bad body work, poor interiors, etc. Not a fan of the wheels, but other than that it looked surprisingly well sorted for $16k.
Once you get past the fact this was once a 1970 longhood, and is now a frankenstein -- it looks to me like it could be a very good deal -- if it checks out.
Are the flares steel or fiberglass? They went through the trouble of installing Turbo gauges when they did the motor, and it appears pretty well put together from the pictures.
The big thing I would worry about is rust due to it being built on an ungalvanized early car. If the rebody was not prepped well, or if the existing rust was not addressed when it was modified, there could be some serious horror hidden on the car. Especially under those rockers.
How thorough was the conversion? Has the suspension been upgraded to cope with the power increase? What does the wiring look like?
There are certainly some cautions -- conversions like this are not easy to sell (hence the price). But $16k is almost parts car money if the Turbo motor is strong. So there is not THAT much downside risk.
If not rusty, I'd say it is a lot of car for $16k, and if you don't mind the outlaw nature, take it in for a PPI and pull the trigger.