1. Should I be worried about the lack of flying recently on the engine?
Depends on a lot of factors... sometimes it does more harm to the engine by doing "30 min runs" frequently rather than flying it for at least an hour to get the oil temps up to normal and cook off all the moisture in the oil, as opposed to preserving the engine for long term storage as outlined in the TCM manual. Also, about 1000 hrs is when most C-150's with 0-200's are looking at a "top" overhaul, which is R&R the cyl's for exchange or reinstall the same one's being reworked. This varys greatly, however. You should expect some engine work soon. Also, the enviroment the plane was kept factors greatly. If a dry southwest reigon you'll be better off than a high humidity area like say Florida or somewhere on the coast where there's salt water.
Look at the airframe for corrosion as well.
2. If I decide to do a strip and paint, is $6000 a reasonable amount to budget?
That could be an average, like I say, depending on where you are located. Here in Calif. the going rate to paint a 150 size plane is around $10K, more or less, and the good paint shops have a 1- 1 1/2 year waiting list. Other parts of the country are a lot less expensive. Then, are you going to completely strip the plane and bring it back up to a showroom finish? or do a quicky "scratch 'n shoot" job? Remember, you pay now or you pay (more) later. Another thing to consider is the windows and all the plastic and fiberglass. Most paint shops include refinishing them, but if severely cracked it's better to get new one's- and the old "repaired" one's look junky against your new paint. Now is the time to replace a windshield, and the back one's if needed , before going to the paint shop.
3. If I decide to refurbish a worn out interior, is $2000 in the ball park for new carpet, seats, and plastic?
Carpet kits run about $300-350, seats can be big money, maybe $300 each to cover. Or you can get salvage yard seats or find some on eBay for a lot less.The problem there is finding the color you want, then you hope they're in good shape and so on. Better to re-do yours.Plastic can be removed and cleaned and painted- Texas Aero Plastics and Vintage Plane Plastics will give you a ballpark depending on how much you replace.
Post a photo of the plane. What's the radio package?
There are hundreds of 150's for sale out there, so be thorough in your pre-buy.Find a good mechanic to give it a look-see, to avoid anything more serious than a mid-time engine and cosmetics.
Good luck!
-Brian
