Just to clarify the log issue. She has logs for the past 2 years which detail the rebuild, paint and recent work. It's the logs for everything before 2002 that are missing, (yes all the logs, airframe, engine, prop, ADs and journey log) all gone. The AME is looking at the current logs today and I have expressed my concerns and he understands.
He is going to look at the plane with a forensic level of detail to figure out if it has been damaged and if so were the repairs done properly. He will also looks at the new AD logbook and confirm that the ADs were not just pencil whipped off.
There are many planes out there without complete logs and many planes with complete logs that have had damge but don't have damage history recorded. Again, I'm a strong believer in the value of a full set of logs but at the same time I'm not convinced that a missing set of logs warrents a walk away, they do of course warrent a very detailed inspection and do warrent a very large deprecation in value.
Lets wait and see what my AME has to say.
