not allowed on the street? That seems odd to me, are you sure? If it has a salvage title, that just means its been wrecked. I have never checked into a salvage titled bike, but you can drive a salvage titled car on the road.
I know it has a salvage title. Its been rebuilt. I looked at the bike yesterday. He gave me all the work that was done. He started it. It only needs a few minor parts. In Maryland you can have a salvage title as long as it passes state inspection.
In Michigan, you can't get plates for a vehicle with a salvage title - unless you get the thing repaired and it passes an inspection, then you can apply to get a real title for it. Seems too much of a hassle to me to bother, unless you're getting a super smoking deal that you just can't possibly pass up, but he's talking about spending $3200 for it. That plus the cost of making the final repairs (exhaust, footpeg, seats, fairings or paintjob) - you can get just about any 5 year old jap sportbike for that amount of money. Not to mention, you really have no way of knowing how the thing's going to handle, or what hidden stress fractures are lurking in that chassis now...
Save your time and aggrevation and move along. Only my opinion of course.