I wouldn't touch it without legal title.
Without that, you have no idea if the bike is stolen, a write off, etc. Be the worst day if you show up to register it in your name and the vin comes back "stolen". Good-bye money, good-bye bike and hello to a possible criminal charge for possession of stolen goods. No thank you.
No title - I walk away. Period.
Guys try that crap around here because if they have too many vehicles pass through their hands in a year, DMV will give you a good hard look to see if you're acting as a dealer without a dealer license. The last thing you want is to pop up on the DMV's radar as "questionable".
No title to me means nothing more than a parts bike purchase price, if I want to deal with it at all.
And what kind of numpty pays 10g for a stripped down "Brat-ized" 550? That's just ridiculous. Has to fall into the "more money than brains" category.
The other one at 2500? WTH?
Maybe, maybe if the engine is freshly rebuilt and the rest of the bike is distressed but all there. That thing is a 500 dollar machine at best......