Talked to Rick again this morning. He spoke with the prev. owner again about the situation with the motor. Basically, no diagnostics have been done and all the prev. owner did was talk with a mechanic over the phone telling him the engine wasn't making full power. Mechanic said "it could need rings/pistons?" So the prev. owner advertised as worst case as not to misrepresent it.
I don't want to get Rick's hopes up too much (or my own) but I'm hopeful it is nothing major. For the price he paid even if the motor is shot he still got a smokin deal......if the motor only needs a minor repair such as fuel pump, carb work, etc. then
SOMEBODY WILL NEED TO CALL THE LAW ON REH76!!