Yeah, unless it was my vehicle that the insurance sold back to me after a crash, I would steer clear. One of our neighbors does this, buys them from the insurance company, pounds on them in his driveway for a while, hits the junkyard for parts, puts a new coat of paint on them and then sells them for not too much less than a clean title.
That's if you're lucky, just imagine the fun of owning a hurricane vehicle. They ship them well out of the area so people aren't thinking about the possibility the car was under sewage tainted salt water for a time.