the engines would go from overheating being directly behind the driver. make sure to add some ductwork, maybe even a cooling fan and shrouds. you got a deal for 500, restored they bring over twice that and yours doesnt look that far off.
they do get bouncy with no suspension. if you keep it stock, keep the tire pressure low. or you could always cut the back off, add some pivots and springs and get some suspension! they used to have kits back in the day to add it, but hard to find anymore
as for the tank, if its real bad, clean it best you can and put it on ebay, and then get you a mini-keg gravity feed tank. no fuel pump to worry about then. and they look good. or any gravity feed tank will work, the mini kegs just look great.
keep us updated!! i have 2 of these... well more like 1 and a half... hahaa much worse shape than yours!!:thumbsup::thumbsup:
also, they made water cooled heads for these that would keep you from overheating, they used a goldwing radiator, no water pump just heat siphoning. might be hard to find, but ive got a machine shop so im thinking about making my own!! one of the only things i like about 2 strokes... you can make your own heads!