Aside from all of the potentially bad things, its very hard to resell a vehicle with a salvaged title. If you're getting this car and plan on running it into the ground and owning it until it blows up or falls apart, not a bad deal. If this is a temporary vehicle until you can resell it and get something "better", you'll probably lose a lot of money.

That being said, $4500 isn't a ton of money that you'd have to recoup if you sold it down the road... follow the advise listed by others, figure out what your intentions are for the car and go from there