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Loose drivetrain hardware can cause alot of problems. The drive train for the 71 was available for many years after 71 atleast into the 80s so parts are readily avilable and reasonable priced. If it's stock you have a SM465 tranny, NP205 transfer case, dana 44 front axle and 12 bolt rear. Solid drivetrain for 1/2 ton w/ the tranny and TC available in 1 tons.
Did you get to put the truck in 4wd and drive it? I'd say check the fluids of the drive train, tighten the loose bolt and if possible have the owner put in a bolt for the missing one and then take it for a spin. Let us know....
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1970 K25, 8' stepside bed 350/465/205 44 up front, 60 in the rear 4.10s rolling on 33" Dunlop MTs
1986 K5, 350/465/208 Dana 60/14 bolt from a cucv 36" Super Swampers TSL/SX
1983 K20 w/ CUCV axles, 350/700R4/208 sitting on 37" Goodyears
1986 M1031 6.2 diesel, TH400/NP205 locker in the rear and a LS in the front, all stock for now.....
1986 K30, 350/400/205 dana 60 and 14 bolt. I kept the drivetrain. Body/bad and chassis are gone.
1981 K30, 350/465/205 dana 60 and dually 14 bolt. Has a G80, and a flat bed. Going to replace the flat bed.
1985 K20, 350/400/208 10 bolt and SF 14 bolt. I wonder where I can find some 1 tons. Hmmmmm 
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