JDI -- I think that $2500 is way too much for a horse off the track. Many you can get for free, a zillion you can get for less than $1000. Basically, if they don't move the horse out, it ends up for slaughter. A non-racing horse just costs the owner money and they generally want them OUT!
However, in the end it's your choice obviously. People have had their dream horse for free, or thousands of dollars. You need to ask is this horse worth $2500 TO YOU. Do your homework for injuries, attitude, training you expect, and so on, in regard to where you want to go with him.
Sometimes, there is no amount of money in the world that is too much for just that pet!