It's the most filthy, rusted out thing I've ever seen in my life. The rust has corroded parts of the engine block, and I hesitate to see what it's done to the insides. (I haven't been able to crack it open yet because I'm still trying to get the corroded, rusted bolts out of the frame)
The carb is missing everything important and all the electrical and other lines are in poor shape at best. It's become clear to me that the previous owner not only didn't take good care of it, but used it in an offroad capacity.(!)
It is repairable, but even after getting it back in shape and spending a good chunk of money, the engine will still probably be garbage within 2 or 3 years. While a bit more expensive, I figure it would be more worth it to just drop the engine entirely and put in a new one with all new electrical.
Getting one of the engines like I described previously would be the easiest solution, as it will be simple to bolt it to the frame and get it up and running, thanks to good documentation and customer support from the company.
Suprisingly, the frame is still in greate shape, so I'd like to focus my attention to it in terms of modifying it and custom painting it.