Drove the kids to school in it this morning and then threw it on the lift. This is my report back to the involved parties.
I'll start with the mechanical stuff.
It needs a timing belt. When that happens it also needs a water pump as part of that job and to fix the valve cover gaskets while you're in there because they're leaking on both heads. The radiator has some weeping where the end tanks attach to the core so I'd replace that at the same time since the coolant will be out and a bunch of the car will be apart. Both accessory belts as well because they're cracking and you have to take them off to do the timing belt so you might as well put good ones back on.
Steering rack is leaking a bit, not a lot. I wouldn't change it now, but it has caused the passenger boot to fall apart so that needs to be replaced.
Rear differential is weeping at the drivers axle so that seal needs to be replaced.
All of the CV boots look good and the transmission and front differential look good. All of the suspension is tight, bushings are getting old but nothing is gone yet. It needs new front sway bar end links eventually as their dust boots are cracked. Shock boots are falling apart but the shocks themselves aren't leaking.
The piece of the undertray that covers the oil pan is missing.
The spare tire was a little loose on it's cable so I tightened that up and added 1/3 gallon of windshield washer fluid just to make sure the dash light worked and it was actually low. It was.
The side mirrors need to be replaced. As long as the not heated ones can be adapted to what's there those are $10 each, if the heated glass is required that's $50 each. Headlights need something done. They're HID's and those quite expensive to just replace so I'd attempt/pay to get them polished back to clear. There is a chance the non HID lights might just plug in and those are only $100 each. I'd have to check on that. They are bad enough it's a safety issue.
Tires are date coded 06-14 and they're starting to weather check. They have enough tread but they'll be properly aged out before they wear out and I'd replace them now, or at least soon.
The outside is getting rough. The dent on the passenger side and the minor scratches on the doors bring down the overall condition. On the inside the cracked dash and ripped rear armrest do the same. None of that affects the drivability at all.
I put the code reader on and there are no stored codes. That's always nice.
There is a flapping rattle in the dash associated with the blower fan. Might just be a leaf or something got sucked in, might be a door failing. I wouldn't take apart the dash to try and fix it, but it's there.
The car drives wonderfully. It's 95% of what a new Lexus would be. I have no doubt that with a timing belt it's good for another 100k miles driving just how it does now. These seem to be very well liked by Lexus people and hold their value well compared to a similar Toyota with the same chassis. The only long term issues I can see are the steering rack if it continues to wear. Changing that is a significant job.