If it starts and runs with no smoke after a minute of idling I wouldn't think twice about the compression. These engines will run literally hundreds of thousands of miles.
Yes, check inside the tank, that is a very common problem point. A clean tank is a great sign. Check the weep hole at the bottom of the clutch housing for any sign of oil. Check the shifter for free play, normal play at the end of the shifter when it's in neutral is about 2cm, significantly more than that may indicate a loose grub screw in the transmission that can be an all day job to correct.
With the bike on the center stand, grab the wheels at 9 and 3 o'clock and give them a shake. There should be no play if the wheel bearings are good. Check the shaft of the rear shock for any oil that would indicate a worn shock. With the front wheel off the ground, gently push the handle bars from side to side feeling for any notchiness.
The bike has enough mileage that the rear splines could be worn through poor maintenance. The condition of the bike as a whole might tell how it was cared for, or maybe not. If you are not sure, you might offer the seller a non-refundable cash deposit to be applied to the price of the bike to inspect the drive shaft splines. The understanding is that if they are in good condition you will purchase the bike. If not, the seller can keep the cash as payment for opening up the swing arm to inspect the drive shaft.
This is probably the most important part of the bike's inspection since worn splines can be the most costly repair to be made on a used bike. Below are a couple photos of what good splines look like on a bike with 90,000 miles. Note how wide and flat the tops of the splines are. As they wear, the tops will get narrower until the entire spline is gone.

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DSCN3349.JPG (38.13 kB . 618x576 - viewed 449 times)Normally, it is only the splines at the final drive end of the drive shaft that wear. At the connection to the transmission, the splines are stationary, and as a result, there is very little wear, if any.