I am plotting and scheming for a way to get this bike. While I was there I gave him an estimate for about $700 worth of labor and materials. I am thinking that I'll offer the labor portion (most of the estimate) in exchange for the bike. It'd be one day labor for me and he'd save about $600.
I hope he goes for it.

He does not know where the chain is, would it be hard to find a new one?