I wouldn't do it. that era f150s had a lot of problems with the rockers and bumpers basically everything on the lower body of the truck rust out I know of 3 personally that the insurance had to buy back because of the problem. specially if it snows where its been and since you're from PA thats a definite. I'd save up a little more money and buy a newer or save some money and buy an older style.
Personally, i'd go with an older style, the boxy ones you can possibly even find a 7.3PSD at the price of that fiddy. They're my favorite haha
2004 Vermillion Red 4.0 4x4
3" Body Lift
2" Tuff Country AAL
33x12.5R15 BF Goodrich Mud Terrain KM2 on 15x10 Mickey Thompson Sidebiter II
& lots more