Check w/ the local DMV about getting a clean title for it....what that all involves.......you may have to jump through MANY hoops to make it road worthy in their eyes, thus making it really a PITA!
HELL, for $3700, you can get a clean titled, never dropped/crashed/broken bike any day of the week...why bother w/ that POS?
BTW, I remember your handle....first bike?