A lot has to do with WHY it was salvaged, and what particular vehicle you're talking about. I probably wouldn't mess with a XJ, ZJ or WJ that's been crashed bad enough to salvage it, since they're unibody and it's hard to imagine the "flipper" that bought it as a wrecked car to fix and sell fixing it RIGHT (they're going to do it as cheaply as possible). I probably wouldn't want a crashed Taco either if I lived in any high-rust area since the frames are known to be a problem from rust alone... if they've been crashed too IDK if I could trust the frame again.
Other vehicles are salvaged because of floods or fire, I would absolutely stay the heck away from those. I think you'd be chasing wiring problems forever in a flood vehicle.
I wouldn't want a theft-recovery salvage, because you know it was beat to heck while the thieves had it.
All of that said, if you can verify it was a light hit (with pictures and such) it's not a horrible idea for an Overland vehicle. There are still the insurance and reg issues others have mentioned to overcome, but those aside I could see it working out. Going back to a WJ, they probably book for < $5k in nearly ALL cases now, so I guess it could be a pretty minor hit to cause it to be salvaged. If the unibody "frame rails" hadn't been tweaked and it was mostly just cosmetic stuff I guess I'd consider it... then again most clean title WJs are < $5k so why bother?
-TJ