Thanks for the great input guys. Yeah, I've already pulled the motor, taken the head off, along with the carb, flywheel cover, oil pump cover and tranny cover. The piston moves but for some reason the flywheel magnets are hitting the magneto brushes.....it might just be an adjustment issue, not sure. So from a running perspective, I think the engine is in pretty good shape. I guess I should have tried to get the motor running before I took the whole thing apart. It's my first resto, so I'm living and learning! I could probably hook it all back up and see if i can get it to bench fire.
Not so sure about the tranny. The clutch cable was shot, but the clutch lever on the engine moves (kinda), and you can manually move the shifter bar inside the flywheel cover to change the gears. So maybe that's ok too. Again....probably should have gotten it running first.
I'm not made of money, so I hear ya about the money issue. It doesn't make a whole lot of sense to put a lot of money into this bike. It's kinda turned into a "not about money project". My son is already 16 and I'm trying to get my daughter involved, so I want to get the bike done pretty quickly before he leaves the house...and I would like the finished bike to be really nice....more nice than I have the ability to make it, so they get fired up about maybe doing stuff like this. I know it won't be worth much, but it'll be really cool, and you don't see these around where I live.
God...enough rambling. I'm washing all the parts this weekend, so maybe I'll take a closer look at the engine. But I've got my hands full with just the stuff I know how to do.
You guys are awesome though. Thanks!