Thanks for the welcomes. I actually live right next door to Pearland, kmb69.
Steve, the rust is not much of a concern. I do some contract work for my uncle's company, which specializes in helping people get rid of rust, old paint and just about every other nasty substance you don't want stuck to metal anymore. I was also a paint/body repairman in a former life and have turned a lof metric wrenches.
The seat is in pretty good shape for the most part. It only has two small holes in the vinyl. The trim and chrome strap hold downs need to be replaced. I imagine it's worth a worth a few dollars to someone.
The major issue is going to be the engine. The bike and engine have been sitting outside in a machine shop yard for three years. The head and cylinders where removed who knows when and water was inside the cases. The engine will probably one of the last pieces of the puzzle.
Other than a little tinkering here and there it's going to be about six months before I can really jump into it. I've got several projects going I need to finish up first. At this point though the only parts I can see keeping are the frame, the swingarm, the rims, the hubs, the lower fork legs and maybe the tank. I had to pry the cap off because of no key for the lock and dumped about a 1/2 cup of rust flakes out of the tank. It's pretty bad.
Until then I'll do my homework and start trying to gather a few parts.
