Check for seepage around the head gasket area. The 1MZ should be better than the 3VZ in this area. Might have a bit of engine varnish from short trips. Otherwise change the oil, drop the transmission pan, put in a new strainer and wipe things clean. If have records of prior maintenance should be a good buy.
Right, do the timing belt, oil seals, water pump, drive belts and a new valve cover gasket set.
I'd replace parts like the following (older prices from
www.rockauto.com)
GATES TCK257 timing component kit $89.79
FEL-PRO TCS45890 crank seal $6.27
FEL-PRO TCS45889 cam seal set $8.55
GATES K060410 Alt/AC belt $13.09
GATES K040345 PS belt $8.61
AISIN Part # 1610029085 water pump $61.79
Total ~$188 + shipping
If needed: FEL-PRO VS50471R valve cover set (with spark plug tube
seals) $30.79