Okay, it's confirmed, it's actually called the flexible coupling on the driveshaft that needs to be replaced.
This is too much work for me considering one would have to remove not only the exhaust from the headers to the tailpipe (which I've done), but the driveshaft too.
With my limited knowledge, this doesn't seem like a weekend job.
Does anyone have an idea of how much labor this might cost me at a reasonable mechanic.
I have to figure out if I should buy the car and for what price considering I'd have to have this repair arranged.