Pretty sure I know the answer here but I have questions about how bad the rust is. Anything else you guys could point out in pics would be appreciated
It is fifth owner, came from New Jersey and has 135K miles. New valve cover gasket. Said he just had a transmission leak fixed and the mechanic told him the main seal was leaking a tiny bit. He said he checks the oil and it never needs any.
He said it had 2 inch body lift. This is not it correct?

Driver side rear hole in frame same hole Passenger side



What is that tag?
It is fifth owner, came from New Jersey and has 135K miles. New valve cover gasket. Said he just had a transmission leak fixed and the mechanic told him the main seal was leaking a tiny bit. He said he checks the oil and it never needs any.
He said it had 2 inch body lift. This is not it correct?

Driver side rear hole in frame same hole Passenger side



What is that tag?