Heck yeah, you could get one hell of an F-150 of that year for 5k. Why don't you look into purchasing an out-of-state truck and getting it shipped or flying out and picking it up? (if the owner is certain it will make the drive, afterall, if it's build to drive all day at the dez, it's usually good to go for long distance drive)
If you saved up $5k you could probably find an f150 that has like 10k into it, plus the vehicle price, and someone just wants out of their never ending project. Happens all the time.