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Check for:
1) Rot in the sills. Very common, all parts available to fix but can cost a bit to have done. Temptation here is to smack on an outer sill only, leaving the middle diaphragm rotten. Check for evidence of this.
2) Overheating. Less common on earlier cars, but still occurs. Usual causes are iffy radiator or, the ultimate sin, someone having put on one of those "bellows" type thermostat bypass hoses which are prone to leaking under pressure. Only solution to the latter is to bite the bullet, pull the head and fit a proper one. Common wisdom says that fitting aftermarket thermostatic fans and such improves matters, this is papering over the cracks. A properly sorted standard cooling system will produce no problems. Let it sit at idle for a good long period. The temperature gauge should settle down well before it gets to the "hot end".
3) Fuel pump. If it comes with the standard SU pump with actuator points, replace it with an electronic one ASAP. There's no fun in beating the crud out of one at the side of the road in the peeing rain in an attempt to get home.
4) Drop in a Luminition "Magnetronic" ignition kit to replace the points and condensor. Infinitely more reliable, better starting, smoother idling, better acceleration and eliminates timing drift. Simple DIY job.
5) On roadsters the door skin splits where the quaterlight joins. Skins and doors available but, again, a pain. Always close the door using the handle and not by pulling the quaterlight, however tempting that may be!
6) Warmth in winter is perfectly possible. Just swap the thermostat for the one specified in the book for "cold climates" at the end of autumn and put back the original come spring. Only takes a few minutes, but use a proper cork gasket rather than one of those "cut to shape, one size fits all" things and a load of jointing compound. Makes it easier come next time.
7) Take the time to learn how to set and balance the SU carbs yourself. You'll do a far better job than anyone else, as you'll take the time to get it right. 90% of "my MGB isn't running well" issues I have dealt with are due to someone having a made a pig's ear here.
8) Check the oil pressure gauge reading when warm and running. If it drops much below 25 psi at idle, the bottom end of the engine is not long for this world. That's usually accompanied by the telltale knocking of big ends on cold start. Make sure you get to listen to it being started from cold, if the vendor invents excuses for it always being warm when you see it, walk away. Gauge needle should remain steady at given revolutions and rise and fall smoothly with revs. Any "flicking" here indicates something wrong with the oil pump or a sticking oil pressure relief valve.
9) If you are used to modern engines, a variety of clattering noises from the top end is not a problem, it's just the way things were. OHV pushrod engines with valve clearances nearly always have at least one worn tappet that clacks away continously. They'll do thousands of miles quite happily like that.
10) If it's had hard valve seats fitted to the head for unleaded fuel, so much the better. The alternative is to buy bottles of additive and tip a dose in at each fill.
11) Early cars are fitted with two 6-volt batteries. These are the only really pricey objects on the car. Ensure the ones with the car are Ok (i.e. it turns over briskly when cold). Look at them, they should look about the same age and "scruffiness". If one looks suspiciously newer than the other, expect to be buying another really soon.
Yes, they are great fun to drive. I ran one as my daily driver for eight years and only gave up when I moved abroad. The secret is not to expect it behave like a modern car and just have a service once a year. Listen to it, feel it and when something "seems wrong" work out what it is and fix it before it fails.
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