Wayne,
It might be a fantastic deal and it might also be a gigantic money pit. Without getting to run the motor or do a proper borescope thats a HUGE gamble. Probably too big for most folks comfort level.
My guess on this is an engine like that probably costs around 30K to overhaul...maybe a bit less. The airframe is probably not worth more than 8-10K without a motor. That would be my bid.
Hows that sound??