I have an 84 Bronco 2 as well, and the previous owner practically destroyed it. I'm in the slow long process of eventually getting it all back to at least somewhat factory appearance. Here's my list of initial problems.
1. Brought it home without having the alternator charging (hauled on a trailer), previous owner didn't have it hooked up right. (Repaired in 5 minutes)
2. Head Gaskets were bad (Local High School replaced them as a project in the auto shop)
3. Carburetor wasn't installed and adjusted properly (Repaired in a few hours of tinkering)
4. Flywheel bolts were stripped, flywheel came lose causing a horrible knocking noise (initially I thought a rod about to let lose). (High school auto shop diagnosed, and repaired).
5. Clutch Master Cylinder failed. (Repaired at high school auto shop)
6. Massive oil leak from back of oil pan that will require the replacement of the oil pan to correct the problem. (Will be doing an oil pan replacement sometime in the near future.)
7. Tons of rust problems, including needing a new driver's side floor pan or welding the seam on the current one, the whole passenger side lower body needs rusted out panels replaced. Driver's side not so bad other than at some point the previous owner must have hit something in the back quarter panel by the driver's side tail-light.
8. Hood needs replaced.
9. Needs new tires/matching wheels.
#7/8 will be done some by myself and some by a local body shop eventually to include new paint job.
Ok, so after all that rambling, here's my take on it, the bronco 2's are getting harder to come by, if you have one that the body is in descent shape, you can part it out or sell the running gear and body for more than what a scrap yard will give you, trust me I know I was thinking about doing the same when I started having issues but after thinking about it, and how hard I had to work to get it by making small payments on it over 3 months, I'm not about to give up on it. After all the work I've had done so far, it runs awesome just looks horrible as you can see from the pictures.
Engine:
Passenger Side:
Front:
Driver Side:
Back: