I just bought mine at 239k, haven't done much other than change the oil and am driving it to work 2-3 days a week. It needs some things but nothing that isn't normal maintenance.
Basically that's why I got it, to rack up miles on and save my newer vehicle for a longer life of adventures. It's a solid little 4x4 for under $5k, got it to do fill in duty but I'll have fun with it as well.
I'm making plans and collecting parts to do all the maintenance items mentioned here, but it's running good now and I think it would be worse on it to sit while I get prepared than run it until I can do those things. Sitting unused is hard on vehicles, causes things to collect moisture, start to rust, seize up, and stop working.
Not to say it won't all fall apart tomorrow, but as of now, I say if your not afraid of doing your own mechanic work, don't be afraid of them well into the 200k range if it appears to have been treated well and no signs of any major failures imminent (engine running poorly, transmission issues, electrical weirdness, etc...)
That said in my search I found a 98 4runner that had all the boxes checked if you went by the book and looked at CARFAX and general operation. It was low miles, stuff like the timing belt and axle bearings were replaced, sounded ready to go. However, the frame was about to fall out from under it it rusted so bad, and if you didn't crawl under it and have a look see you would have never suspected it.
So records and numbers don't mean jack if you can't assess the condition of the vehicle as it sits. I passed on one with well under 200k for one that was in much better condition at well over 200k.
