I have a love for the cheap and broken, and this met that.... $200 and this 82 xj550 followed me home.
Bumped it and it has compression
Needs:
Tail light
Start button
Rejet and carbs rebuilt
Tires
Fix brakes
Fuel door lock and ignition switch
Fuel lines/filter/petcock
Bonus would be a led headlight and turn signals because these are trashed.
Got the ignition out. 
Took off broken reflector
Got the starter switch apart to fix, lubed the throttle cable, fixed the needle in the cluster and fixing master cylinder. 
Broken start button and sticky switches 
Some cussing, and some wd-40 later smooth and now has a start button.
Do you keep track of money spent on these? I'm curious if you can get your money's worth out of a project or do you do it out of love for bikes? Not necessarily resale money, but does a $200 bike with $1000 worth of parts and whatever we all value our time compare to a decent bike that you pay $1500-$2500?
I hope that makes sense
In reply to Justjim75 :
I do keep a tight eye on what I spend on them. Honestly making a little bit of money makes me happy. Not out here to get rich, I'd say 50% is I love fixing other people's failed projects, 30% is I just plain like old bikes and 20% is to make a few bucks.
I would much rather be piddling with a bike than watching TV or playing video games.
So far on this one I got
Bike $200
Carb kit/jets: $45
Petcock fuel line and filter: $18
Brake master and caliper rebuild: $24
Starter button: $15
Ignition switch: $21
Turn signals: $17
Used a butt connector, brake fluid, brake clean, and some other small mics stuff.
That definitely answers my question, thank you. Oh, and I may be getting a project bike soon.
Justjim75 said:That definitely answers my question, thank you. Oh, and I may be getting a project bike soon.
What ya looking at? If ya need any help or have questions let me know. I was thinking last night, with my added time I doubt I make any money, but still enjoy it.
So the fuel pet cock leaks like a siv. I did some quick measuring and a DR one that I already own fits. The screws on it were round. got out the extractor and there was not enough room in there for it. Whipped out the left hand drill bits and they spun right out. 
Not looking for anything in particular, but I watch the for sale sites regularly and every now and then I have the urge to try one but never knew if it was <$1000 to get one rideable.
Thanks for the offer, and I like old standards and street legal dirt bikes if you see or sell one
Awesome! I have an '82 XZ550 sitting around in my garage that I need to finish up.
In reply to Justjim75 :
Oh yes you can get one going reliability for sub $1000.
This one will be for sale at some point along with my gs559. also considering selling my DR250 to buy something I have been eyeing.
In reply to enginenerd :
That's a sharp looking price.
In reply to Professor_Brap (Forum Supporter) :
First in line on the DR!
In reply to Justjim75 :
Sent you a PM
Front end is together, all wiring is good and tested minus redoing the fuse box. 
What is parts availability like on the older Yamahas? I've noticed that a lot of stuff is NLA for my '76 KZ400. Right now the front brake drags, and I can't find a caliper rebuild kit, for example.
In reply to 1988RedT2 :
Seems to be good. I bought a caliper rebuild kit, master rebuild kit and carb kits ext.
Big ol jet kit/rebuild kit arrived. That's on my list this week. 
Popped the first bowl off and got to see this.
Oh boy.
The amount of goo is impressive.
Gonna have to be tracking down some parts.
You probably know this but you'll need to drive the emulsion tubes out in order to clean that. A lot of people don't do that and then wonder why their carbs still don't work after a cleaning.
In reply to APEowner :
Yup, they always come out, one carb is fully stripped and currently in the ultrasonic for 2 rounds today, then getting the mini brush and then through the ultrasonic again.
Got my factory brake light installed. 
new master on. waiting on carb parts
been deciding if I'ma jet for this/how bad it is gonna sound. 
tail light and plate bracket and turn signals are good and working perfectly. 
Looking for the seat bracket that holds down the back of the seat.
DR petcock vs vaccum maxim petcock that leaks fuel 
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