I would hold out for another bike. This bike may end up costing you more than it's worth. Plus it has no title, and that can be tricky. Mine had a title and it still got kicked back in my state. Just got it sorted out and in my name after three months. Also I got extremely lucky in that the one I bought was completly rebuilt, painted, new tires, brakes... everything. I bought it from a member of this site, who posted it on eBay. Sold for $6601. They are out there, you just need to take your time and find the right one.
_________________
MC21
04 NSR50R
93 CBR F2
98 CBR F3 track bike
95 VFR750
89 FL400R Pilot
90 FZR 4/600