Project Bike, Input Requested

[senna vs. prost]

I found an '02 Monster 620, the gentleman selling it claims that it was stored improperly and requires a new fuel system. He was asking $3k and dropped the price down to $2k immediately (this is Canada, everything is stupid expensive here). Apparently he bought the bike without realizing this and Ducati quoted him $3200 for a new tank, pump, filter, injectors etc.

I made a couple calls to friends who have been riding for years, and we formulated a plan to do this for far less than that. Used or CA-Cycleworks Tank, re-built injectors, new lines, CA Cycleworks pump, new filter, plus replace things like brake pads, new chain, sprocket. It should cost about $1k for the parts, and I have access to a shop.

I'm wondering if 1) this is a fool's errand 2) I should try and get it for even lower. It looks like it's in good shape but it's a 9 year old bike with 19,000 miles as well. I'm not a complete mechanical retard (I've raced and worked on karts and turned a $400 BMW into a competitive race car) but this will be my first bike project.

Thanks,
SvP

[2-Skinny]

I would try to go even lower on the price citing all the work that needs to be done- if you did the same repairs he was you'd be into the bike for $5200- and its not worth that.  If it is a steel tank you might be able to reseal the inside with Kreem or Por whatever.  Definitely have the injectors ultrasonically cleaned, all other stuff is pretty cheap.  Test everything to make sure it needs to be replaced first.