As far as buying it an reselling it, that's a real iffy propositon. If you have need of such a truck and are buying it to run it, I'd say go for it. Aside from that, I wouldn't bother.
I've only had one truck that I bought cheap and sold for a profit. I bought an 89 Eddie Bauer BII from a junkyard (got lucky, they never transferred the title cuz they were just gonna crush it, so I got a clean title). Needed a good bit of work, but that was fine by me, I used my spare time at college to work on it, kept me out of trouble and happily turning a wrench. Drove the truck for two years up there so I'd have a 4x4 (none of my other 4x4s were functional at the time), then sold it for a profit (well, it covered the expense of parts but that was about it, didn't really get anything for my labor) before I left college and used the money towards getting my choptop on the road.
I kinda wish I wouldn't have sold it...