Hi everyone! I'm new here and have really learned so much from reading through the forums here. This place is awesome, thanks to all!

Here's my situation.. I recently acquired a brand new LHT frame set (50cm). What I'm hoping to do is build it up using used parts when I can, and possibly getting new wheels/tires. The last few weeks I have watched craigs for an old bike that may fit my needs... and this turned up: https://slo.craigslist.org/bik/3640748754.html

Suitable? Will I get enough off of this to make the price reasonable?

With $600 could I build up a decent touring bike, already having the frameset?

Looking forward to some expert advice and ready for the criticisms

Yes, if you do not include racks/panniers/pump/lights/accessories/apparel/camping gear/misc.

I've built 2 LHTs now with <$600 in components. I built new wheels from parts, recycled a few components, bought others at lowest price.

Buying used bikes for the parts works only if a. price is very low, b. most of the parts are what you want and c. the bike was basically garage art, ridden only a couple hundred miles. It's difficult to determine parts condition from internet pics, easy to end up with unusable junk, so be careful. I'd rather buy new budget-priced components than take chances on used parts. I'd buy used only if I can personally inspect prior to purchase.

I transferred old parts from my commuter to my LHT when i built it up but I acquired parts over time with the idea of buying a new frame. If it were me I would be patient and shop ebay or Jenson USA for some last years model/closeouts and have the wheels built up at the LBS.

I picked up an LX crank @ Jenson cheaper that my buddy who owns a bike shop could get it for...he bought one for his LHT also.

Drivetrain deals https://www.jensonusa.com/Bicycle-Drivetrain

I built up two touring bikes using mostly new parts I found on sale on the internet but also used a few used parts that I found on ebay. On both, am using a used rear derailleur and used handlebars, one bike I have a used headset. But it can take months to accumulate the stuff you want if you are looking for sale prices to pop up. In the end I paid full price for all my rims, could not find any on sale. Just about everything else I bought was on sale.

Bought the spokes from a local bike shop, also paid full price for those. If you are building up the wheels yourself, shop around for spokes, the prices are quite variable. One bike shop was going to charge me as much for spokes as they would have charged to build up the wheels.

Finding a good donor bike may be the best way to go if you are more concerned about price than anything else. If you start going to garage sales looking for donor bikes, carry a caliper with you so that you can measure the rear dropout spacing to make sure that you get a rear hub that fits in your frame. For a LHT you want rear wheel sized for a 135mm rear dropouts. Some older bikes will have a seatpost that is the wrong size for LHT, but that is a very cheap part so if your donor bike has the wrong size, no big deal.