A friend is offering to give me her '99 V70. She was going to donate it to someone/something so she asked me if I wanted to take it.

Heres the back story:

The car has about 200k miles on it. One day she was driving it and it shut-off on her (the car overheated on her), she tried to turn it back on and it eventually did. She was able to drive it to a near by gas station. They checked the oil and it was fine, the coolant was empty though. They re-filled the coolant and she drove it home with no problem.

She took it to a local mechanic, they put a die in for the radiator to see where it went. Turns out the car has coolant in the oil. She can drive it but she has to re-fill it with coolant on every trip (relatively short trips) and there are no visible leaks. Basically, the car is driving but obviosly has a big issue.

Could it be any of these or other problems:
The head gasket
The oil cooler in the radiator
Cracked block
Etc

Any suggestions to what to look for?

Just curious to what I'de be dealing with if I decide to invest the time and money into it. I think the worst case scenario is that I sell the car for parts as long as I don't invest more in the car than I can get for it if I sell it.

So, question is: Should I take the car or not? Think its worth fixing?

I appreciate any feedback/help on this.
(I could use another car right now and its not everyday someone just gives one away like this)

Thanks,

 

worst case scenario is the head is cracked and needs to be swapped out. Likely causes are head gasket or a cracked cylinder head. Assuming the worst, you can get a used head installed in the $1500 range - less if you do the work (a used head goes for $500 or so). The car is probably worth $1500 to $2000 in working order so I'd say if you can do the work its a deal, if you need to pay a shop, then I'd take a pass.