you can definitely get insurance w/o a title. actually you can insure any old random car/bike you want w/o ever proving that it is yours...automaticj5 said:I am not sure really but.. can you get insured and licensed without a title?
on to the main topic - the only problem i see with this scenario is what will happen if you get a parking ticket or something? at what point will they just impound the bike? also, if you ever get your bike towed or something you can never prove you own it.
from my understanding the original owner can go to the DMV and request a duplicate title. those usually cost less than $100 and will probably be worth paying for but considering that the original owner is probably nowhere to be found you probably wont get it.
basically, i would pick this bike up if you like it and if you are willing to lose it. if you are not willing to part with your $600 then look for a legitimate bike.