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Thats what I needed to know. I will give it some thought. You probably already have figured this out but I will give you a heads up just in case, (I know I have a hard time learning my lesson sometimes) Don't ever give anybody money for something if they don't have the title in hand, for all you know it is stolen if the person doesn't have the paperwork to prove it belongs to them. That being said, you might have to be patient and get your money one piece at a time with the whole parting out thing, because not many people are probably going to give you anywhere near that much for a bike with no title and no hope of getting one from the owner.
Also it sounds like you may have blown the head gasket or the bolts need to be torqued down really can't say without seeing or hearing for myself, but that would be a cheap thing to try to fix, if that is what it is.
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"Tell me what kind of wreck you're going to have and I'll tell you what type of helmet you need." [Author Unknown]
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