Topic: First bike, massive project!

[spartyon8]

I have always wanted to build a bike and found a 75 cb550 for $100. I like to work on cars and figured i could handle this.

Obvious Issues
-dented tank, pretty big
-cracked turn signals
-electric starter doesn't work and the PO rigged it to a toggle
-wires hanging everywhere
-broken plug wire, reason it has sat since summer

Pros
-cheap
-Ran over the summer and engine turns freely

Goals
I want to make a bobber out of it. Saddle seat, bobbed fender, remote mounted lights, etc. I am mechanically inclined but don't really no where to start. Before i start hacking away, what are some of the musts when starting a project like this?

[spartyon8]

I got it off the truck and into the garage. Starting tearing off fender, tank, lights, and started the handle bars then decided to leave them to move bike around.

[MoMo]

The first thing I would do is check compression and do a leak down test if you have the necessary equipment-that'll tell you if you need to rebuild the motor. I have salvaged several old motors that had low compression by filling the cylinders with Seafoam-seems to free up stuck rings. Looks like you really have your work cut out.   Drain the oil and see if there is any water mixed in.  BTW, welcome...Larry