Well.... I got another call from this "nice guy" yesterday evening after having spent over 6 hours in the garage getting the carbs synched, brake work done, and working on soaking out the tank. Turns out that he does feel entitled to the bike (even though he sold it MANY years ago) but "wouldn't take advantage of someone". He offered me the $600 I'll have paid for the bike and parts when all's said and done. I was just blown away. After talking for a few and letting him know just how dissappointed I was that he was going back on his earlier statement he said he'd give me $1,000 total to help compensate for my time and effort if I complete the tank and brake work (I hadn't ordered the POR-15 at that point). Since I'm kinda at his mercy I said yeh, but I am really not happy about it.
This bike was for a very close friend and was to be something that we could work on together and he could learn how to work on bikes with. I'm trying to keep the "at least I helped return the bike to the original owner" idea in mind but he really doesn't deserve the bike considering he sold it for $40 cause "it was only worth about $100 more than it'd cost me to get it back on the road" in the late 80's and he only plans to ride it around the neighborhood every once in a while. I translate that into "the bike is going to rot in my garage". Really makes me sick to think about too much.
Here's to making sure you get a title before doing any work on a project. Something done in good faith will only get you so far.
Hey, at least I'm not losing money on the deal or the wife would be ready to kill me...