Dude...
Pajero IO is the best vehicle(SUV) you can get for that price range.It doesnt have such inherited defects.If you maintain the vehicle well ,it want give you troubles.
You have to be careful about the fuel pump and the PCV valve(as JDNET mentioned.).
The comfort,pulling power,safety, handling and the prestige look are the key attractions.
Price range 1998-2000=2.3mil-2.6mil Depending on the Condition /Mileage/Turbo/Non Turbo
Best wishes.