New to the MR2 & Toyota World

[90GSMitsu]

Hey Guys New To The Toyota World. guess i'm not part of it yet though.

my Question, i have found a 1985 MR2 Base Model for $450
Lady Says It runs but smokes and the #1 Piston compression check came low...

Any Thoughts or ideas would be great! lookin for a Drift car to add to my Team. and this sounds good to me, but i figured i would leave it to the people who know MR2's the best.
Thanks ahead of time

This a Good Car? heres a copy of the Ad she posted:
This is a running but smoking 1985 red MR2 base model.
Has original 4AGE bluetop engine with 5 speed transmission.
Car runs and drives but smokes badly. Did compression check and number one cylinder is low. Could be headgasket but it doesn't overheat at all so it might be something else.
Paint is faded on front of car.
Some rust on rear fender wells but not a lot compared to others I've seen. Interior is in great shape.
Windshield is cracked but a new one is included, just needs to be installed
Has original 4AGE bluetop engine with 5 speed transmission.
Car runs and drives but smokes badly. Did compression check and number one cylinder is low. Could be headgasket but it doesn't overheat at all so it might be something else.
Paint is faded on front of car.
Some rust on rear fender wells but not a lot compared to others I've seen. Interior is in great shape.
Windshield is cracked but a new one is included, just needs to be installed