Well, it turns out that it is a 1980, not an '86. But that doesn't really matter to me. As long as the frame is good enough to work from, and the engine solid enough for me to make run well again, I'm going to give it a shot. I've never done anything like this before, so if nothing else there is a couple hundred bucks worth of education in it for me. So I'm going to go pick it up tonight.
BigRamsey - I haven't decided on going bobber or chopper yet, but it's definitely not staying stock!
jd750ace - I've read that the charging systems on those bikes were definite in need up an upgrade, so I'll probably be doing that. Thanks for the heads up on the Cam chain tensioners. I'll be sure to check that out too.
SouthernDarkness - What do you mean by "ditch the points"? Sorry if that is a rookie question, but like I said, this is definitely going to be educational for me.
Wish me luck boys. I'll post some pictures once I get her.