It is sad that someone would lose interest in a nice bike like that and abandon it, but the bike itself doesn't look bad... it's more dirty than anything else. A good cleaning and I think she'd look fine, new tires, fluids, belts, the usual stuff and she'd be ready to hit the road in the spring. I wouldn't buy it with no title, but somebody will.
Drives me crazy when I see motorcycles with rusty sagging chains... you gotta' really not give a sh*t to let your bike get like that.
In Michigan you can get a title with a bill of sale. The DMV will run the title and if it doesn’t come up stolen they’ll issue you a new one. If it does come up stolen they confiscate the bike and you lose whatever you paid, but it doesn’t appear they arrest you for possession of stolen goods. I’ve done this with bikes and cars.