I have found a 94 Cherokee Country for sale - could probably get it for $1800 and it has approx 125k on it - I6 seems to run fine, interior will do - problem i have is that there is a lot of rust present underneath...rocker panels, exhaust, axle maybe, transfer, shocks show quite a bit of rust - i am no professional, and i wanted to know based on the price does this seem like a good buy? i have no clue what it would cost to get the underside repaired/redone...but i am having difficulty finding the cherokee country with such low miles - any thoughts or anyone know of one with <125k miles for sale?

 

How is the rust on the actual body itself?, namely underneath. Rust on the things you listed is negligible.
That is a good price if the frame rails and floor plans are in good shape.