Welcome to the club Timothy, Gary cover it well. All I could add is find an airplane equipped the way you want and buy it, DO NOT TRY " Fixing it the way you want". I have a 152 with over $100,000 in it. I well never get back more than 25% at best.
I loved an 8E Luscombe I use to own, but unless your planning on flying into out of the way dirt strips, your better off keeping the tricycle gear. Don't rule out a 152... they can be converted to 125HP or you might find one already converted.
I feel that how often the plane is flown is as much a factor as the hours on it. My 152 has 1220 T.T. and 243 SMOH. I had to have on tank cut apart and welded, the other tank could not be repaired and had to be replaced. You do not want to get a plane that has sat and was not flown.
With my 8E Luscombe when I was flying about 25hr per month I had few problems with but when my flying dropped to a few hr per month my maintance went way up, things like wheel bearings ect.
Last edited by Bernard_Dunn; 01/02/11 09:32 AM.
