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Bruce, its not a bad idea. But as mentioned the cost can skyrocket, depending on how you go about it. I've done it in the past, rather cheaply and with great results. BUT I also have a lot of resources at hand. Count your resources: machining (what can you do and what would you have to shop out), bike pieces/parts availability, etc. Also try to have a detailed idea of your final outcome before starting. This will help you lower cost by not going down roads that won't work, or losing your way and buying parts you won't use. And don't use a bike that is just cheap as the base. Use something that has a good NOS parts supply. Many times its the old, run of the mill stuff that will cost a fortune (who wants to spend 200.00+ on a voltage regulator?)
A few years ago, I took a Honda CM400 and turned it into a nifty, good looking cafe racer that topped over a ton for under 1000.00 total. BUT I had to do a lot of stuff myself (welding, machining....) and search moto-junkyards for parts.
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Ducati repairs and restoration if you are in the area.
"Its more fun to take something slow, and make it fast" - Burt Munro
92 944ss/cr
97 955
08 1098S
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