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At this point, proper maintenance is far more important than miles. A well maintained 7.3 will go for 100's of thousands of miles. An abused one could be ready for the scrap heap at 100K.
Your dream truck will be the one where the PO clearly cared about it and has a notebook of all the PM he did on it and when.
Things to check for"
Oil changes
Tranny flush (if automatic)
Coolant change
Brake fluid flush
P/S flush
Re-greasing front hubs
Diff oil changes
Welcome to FTE! I would start to get concerned at anything over 250k as this is where you will generally start to see the need for injectors and water pumps high pressure oil pumps ect... Now if the truck comes with a detailed service history, showing all required fluid changes done on time and at least a yearly oil analysis showing no apperciable wear you can easily double that! I have personally owned 7.3 powered trucks (a 99 drw) that had 876k with only basic problems and just 1 injector replacement for 279.00 quite a bargain for that kind of milage! The key is maintenance, the engine is built for med truck use ^so 500k is normal 750k not uncommon, and I have seen many with over 1,000,000mi taken care of it will last!
Jim & fat Monty
The 7.3L began in 1988 and went through part of the 2003 model year. It came in many variations over those years so you'll need to be more specific as to what years you're looking at and whether or not you're definitely talking about a Super Duty. Lots of folks post SD and OBS questions in this forum so a little more info will help folks here offer advice.
look for the expensive things too....like the oil pan. If the oil pan looks rusty or freshly painted there is some concern. Look for oil leaks, check the tranny fluid, maintenance records, etc. Mileage is just a number. It could have 200,000 commuting miles and no tow miles, or 100,000 miles of towing heavy equipment off-road.