The. Previous poster gave a real world example of the 260 HP injected engine running lean of peak (‘LOP’). Most carbureted engines won’t run smoothly LOP. The issue is that the standard 60 gal tanks are just a bit small. The carb’d plane has an endurance of 4 hours plus 1 hr reserve. I run mine LOP at 10 gal/hr to get 5 hrs (+1 reserve). Is that difference important to you? If you fly ifr and you need an alternate the range shrinks some more. Run the numbers for your typical trips, see if it matters to you. There are expensive options, of course, ranging from installing extended range fuel tanks (after market) to a whole new engine. When Vans first built the two prototype RV-10’s, one was a lower HP version, close to this plane. Their marketing department found that no one wanted it, so it was never a Vans option. Now, all this doesn’t mean that this is a bad plane. It does mean that the selling price should reflect that this is not the same airplane as the FI 260 HP version.
Things to look for? So many early buyers (who were nearly all not the builder) managed to takeoff with a door only latched at the front pin (and subsequently lost the door in flight) that I think the after market 3rd latch (rotating half wheel that latches to the door sill) should be considered mandatory. Otherwise, the plane has few vices. Check the empty weight and, especially, the CG. Heavy planes also tend to have aft cg’s; most 10’s are limited more by the cg than by the gross weight, if you put people and bags in the back.
Agree with the previous poster: Hire your own inspector. Nothing personal, but you want someone who works for you. Vic Syracuse (this forum) has a good reputation, but I don’t know how far he travels from Georgia.
Borrowing money? Always possible, but current interest rates are rather high.
Edit: I forgot, may be important. Call Jenny at Nationaire Insurance (they advertise on this web site) and get a free quote. If you have zero RV time and/or low high performance time be prepared for sticker shock. Of course if you finance the bank will require insurance.