This thread is probably not pertinent any more but I'll chime in anyway -- having extensive experience being poor, sometimes it's best to spend a little now and more when you have it than a lot now and less later -- and the less funds currently available the more that addage is true.
IMO using over-the-top scare rhetoric like 'You think you're poor now?' and talking about squirrels in Oregon is unhelpful and disproportionate. Most of the things that prevent a k-Bike from running take an investment in time and effort but not a big financial outlay. I didn't see any indication that the bike was a total loss or not worth $700. That little oil spot was nuthin' -- you'll find enough people on this site who think a little oil weepage doesn't mean diddly-squat for a K-Bike. The road rash on the camshaft cover doesn't mean jack either, unless you're of the mind that laying a bike on it's side automatically qualifies it as a total loss. I had road rash on both my covers -- nothing a little Bondo, sandpaper, and paint couldn't fix. Used parts are available online. A Kbike isn't a money pit like a boat -- once it runs it requires very little maintenance. Aesthetics -- that's another issue, but I think that wasn't what Chad was after here.
Personally, I think if Chad or anyone else wants to take a project Kbike on, he or she should be supported all the way. It's a win-win for Chad. Either he gets a bike that can be resurrected with a reasonable amount of $$ and effort, or he gets a pile of parts that he can share with the community, which is certainly better than the bike going to some fleabay scavenger who parts it out to the highest bidder without even a second glance.
If I were Chad or anyone else looking at a non-running Kbike, I'd recommend finding a battery and seeing how it responds to power. Just from that info alone a lot can be deduced about its resurrectability. As far as the aesthetics -- Chad is free to give a crap about that when he has some $$ or not -- either way, any running Kbike is better than one parted out.
I'm not sure where Johnny got the $1 - 3K number to get it on the road. I didn't see that at all in the pix. I also don't see a whole lot of low-mileage, good-condition Kbikes under $2000, anywhere. What I saw in Chad's pix was a K75 with 98k on the odometer (a baby!) and a guy who was willing to take it under his wing. More power to him! For $700 personally I'd have said: Go for it! Sounds like a project you can sink your teeth into. You can be guaranteed you won't be spending any money on service labor, 'cause all the info you need to get 'er back on the road can be found right here for $0.00.
My $0.02...
MH