If the price is right, and your just going to strip it and build on it anyway, I think I would buy it. You can expect to have some cutting and welding done to repair the bad spots, but other than that, it's probably perfactly useable. Im not sure I'd pay more than $100 for the whole unit. If the tires are new, maybe a little more, but your only buying the frame, axle and tires...
'97 Jayco Eagle 314BHS
'03 Tahoe LT 5.3L