oh i dont buy off ebay either, this is on CL
Do you understand the irony of that statement? It's the distance not the method that makes the most difference. Ebay is global, CL is local unless you use one of those Ad Hunter kind of sites that searches all of craigslist everywhere which is seems like you are doing.
At least with ebay there is a, albeit messy and complicated, shadow of consumer protection. CL? well that's like sticking your member through the glory hole at an unfamilar truck stop, maybe you'll get something good, maybe you'll get a punch in the groin, maybe you'll get herpes.
budget for any potential issues that will come up. 500s have weak clutches so figure a new clutch might be in store and try to get the seller down by 1/2 the cost of it as part of the gamble (again they might say no).
$1500 might be a good price, but if it were me just for the hassle I would want it to be closer to $1200 or $1000 (which the seller might not take).
Sometimes buying an old bike is all about patience. In the old days before computers you just had to hope and wait till an ad came up in the local paper and then you paid what it took to get the vehicle. now you can search and find deals all over the country but is it the right deal for you at that moment? only you can know that.