would I be a fool to buy this bike?

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SkySoldier wrote:"I would never sell something that looks like that- all half *** and subject to speculation. Even if you have to explain the salvage title, at least make it look presentable and have some receipts from a qualified place to certify that the thing is ok and has been put back together correctly. Just my $.02 FWIW.."

Yes, but the owner undoubtedly does not want to put any more money into the bike than he needs to.
I guess the point of what I was trying to say is this: If you already have the bike apart and are putting it back together, do it the right way! Spend some money on painting the plastic, find a hard bag somewhere. It doesn't take much. When selling, you won't have to go through this speculation. If it looks like you put it together half ***, it probably is true. Maybe the guy doesn't want to spend the money because he knows that no reputable shop would be able to put that thing back together correctly. Or maybe he's just a cheap *******. Either way, I wouldn't want any part of that. Those are the worst people to buy things from because they never maintained their stuff in the first place. Cosmetically and probably underneath, the bike looks like crap. Maybe its just me but I'd be embarrassed to sell something that looks that poorly. If I did happen to find myself selling something like that, I would never say that it has been "restored and runs great". Karma always comes around to bite you and I like to sleep at night.

 
If it were not for projects like this I would have had to walk everywhere I went between the ages of 17 and 30. I am not going to get into a discussion about intelligent purchase decisions, or the lack thereof, but I had many cars and motorcycles like this one. For the most part I loved them.

I do remember that it was a rare month when I spent less on repairs than a payment would have cost. I am glad I have gotten older, the memory has faded, and I can no longer keep score. I suspect I could have bought a house or two with what I spent on junk.

 
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