Supra Turbo needs rebuilt engine. Good buy?

I'm looking to buy my first car, and have been searching craigslist. I came across this 1988 Supra Turbo in pretty good condition (with one exception) for $2000.

That one exception is a doozy though, the rod bearing is apparently destroyed, and the seller says the engine needs to be rebuilt. This will be the car that I learn about working on cars, so I'm not quite sure how much of a hassle it would be to fix this. I don't want something to frustrating or expensive as I'm on a colleg budget here. :banghead:

So basically what I'm asking is if I can negotiate the seller down from a lower price, and how much I could expect to have to pay to fix the engine.

Here's the original craigslist post with pictures: http://peoria.craigslist.org/car/495765841.html

Thanks in advance for helping me out.

If you have a DD and you have another $2-3K to spend on repairs and tools, and you have a lot of time to learn then sure.

Usually I would say go for it, but considering the budget your on (since you said college I'm just assuming that it's not a whole lot) and the fact that this is going to be your learning experience, I would say try to find something else with a smaller problem(s) and fix it up. An engine swap or rebuild might be a hassle for you and could drive you nuts. Good luck though, let us know what you decide to go with :)