Good trucks. In 96 Chevy started fully galvanizing the body, so they tend to be less rust prone than 95-earlier models (they do still rust though)
Check build codes in glove box for code G80. If it has a G80 code, it means rear axle is gov-lock. They can be a decent locker if treated right. Never, never, gun or try to "peel out" a G80 rear, they will explode! If you start to get stuck, slowly increase speed until both tires are spinning, then you can "gun" it.
As mentioned, check intake AND water pump for leaks. If it still has orange coolant, flush it out and refill with green.
Reproduction and aftermarket parts are limited at this time, escpecially for all parts from the doors back, so if there are broken plastics, trim, seals, etc. you will be junkyarding it.
That year "should" have a 4L80E transmission, which is very stout. However I have seen some 3/4 suburbans, most with lower gvwr and clamshell doors, that have the 4L60E trans. That trans is light duty and O.K. for moderate driving, but will fail under heavy offroad or towing. Swapping one out for a 4L80E is possible, but not a "bolt-in" and can be pricy to do.
If it matters to you, some have skid plates, some do not. Most with the Z71 build code have them unless removed.
You did mention it was a 2500, which is good. In my opinion the 1500 has too small of brakes and other parts. Upgrades are out there but pricy. I'd definately look for a 2500.