for $40, i'd say buy it, good score, worth it in parts usually.
but, keep looking for a mostly complete runner, seriously.
what is your skill level? on a scale of 1 to 10 (i'm a 6 or 7/10)
again, one of my "regrets as a beginner" is not holding out for nicer projects.
if what you're looking at is a rusted turd, it'll never be nice without a ton of money and time invested.
way more then it's worth, prob.
but still a good project you can learn the basics on, dump money into, no hurting it i guess.
my average ped costs <$200,non-running, dump another $200 or so into plus a ton of time.
$50 tires, tubes, $40 cables, $10 chains, $45 motor seals, bearings, gaskets, it adds up fast.
ciao is a frame tank, be very careful to check it's not totally full of rust, perforated.
and get a look at the subframe.