My experience with deals like this, and I've done a few (including cars and bikes), has not been real good. Generally whoever is selling it bought it with the same idea you have - fix it cheap to keep or sell. A lot of times they come from dealers only insurance auctions. When the dealer gets it home, he discovers hidden damage he didn't see at the auction and realizes it's going to cost too much to fix it - or - the market drops (like spring arrives). He then will try to sell it 'as is' at a profit. I've seen more and more guys doing this (selling insurance wrecks for profit to unsuspecting home mechanics).
When buying this machine, I would look the tunnel and bulkhead over very carefully. If you find damage in either place, just walk away. Make sure proper paperwork is avaialble. Make absolutely sure there are no small expensive parts missing (like the carbs, shocks, or CDI box). Do not, under any circumstances, give anybody a penny until you've been allowed plenty of time to look over the machine for yourself. Do not purchase it after seeing only pictures....... FWIW
