Kind of like a car... Besides what he said above checking the tank, do the following:
Check the oil - is it at the proper level? Does it look like it's ever been changed?
Check the air filter - is it completely clogged up or decently clean?
Check the water in the tank - ask first, but if allowed open the drain and see how much water dumps out... If it has a ton of water in it and it's all rusty, you can guess how poor the tank must be in on the inside...
Check the safety valve to make sure it can release pressure.
If you can power it up that is a definite plus. Make sure it can build up to proper pressure. Make sure there are no horrible noises and the motor isn't smoking or something bad like that.
Also look for any obvious signs of damage or home-made repair that isn't right.