Hi there,
In my experience the 16v TS 2.0 is a reliable engine with few issues as long as you change the timing belt and the oil at the prescribed intervals. A common issue is a failing variator, a part that is fitted to the end of the inlet camshaft to alter the duration of the valve opening at high RPM (someone can correct me if I have this wrong).
If a 16V TS has a noisy rattle on start up (sounds like a diesel) , then it is most likely that it needs the camshaft variator replaced. Not at all a deal breaker, but should be factored into the price of the car.
Another common part failure is the electric window switch. Now this might not seem like a big deal but the switch must work to pass a roadworthy inspection and a new part for the 4 door car (2 door of course is different) if you can find one is about $400. Good second hand ones are about $250. Once again, not a deal breaker but should be factored into the purchase cost. If the car has a good drivers side window switch, be gentle with it, they break easily!
Apart from the above, 147s are great little cars – highly recommend!
Cheers,
Al.