Sure but the average owner isn't going to have access to the same resources Willie Nelson does. In the vast majority of cases, a beat up guitar is just going to be a beat up guitar.
Check how far the strings are from the frets, especially where the neck meets the body. The gap should be a few 32nds of an inch. While you're at it, check for a gap under the bridge and between the neck heel and the body. The latter is especially bad news. Look at the guitar edge on and notice whether the top is flat. If it slopes downward from the neck/body joint, keep looking. Similarly, look for a pronounced hump in the fretboard where the neck meets the body. A slight hump is normal but a large one is a sign of trouble.