The guy originally told me that he would sell me the planer for $200.00 and a 7-1/2 HP, single phase motor for an additional $150.00.
Well, now he tells me that his kids sold the motor a few years ago, and he didn't know about it. But, the planer is still $200.00. He said it has some rust on the beds, but only on the beds, as the pictures show. Overall, it is in pretty good shape. He said it had been sitting outside covered for several years. Now, it is UNcovered for the last couple of weeks. I guess that means there will be quite a bit of rust on the beds to clean up.
But, I can deal with that, I guess.
I checked around with some local motor dealers to see if any of them had any used motors. I found a 5 HP-SP for $150.00 and a 7-1/2 HP-SP for $250.00. Both are from a local motor dealer, so you can be pretty certain that they are good motors . . . they may even have a short warranty. But, he specifically talked about how the 7-1/2 was a particularly great motor. He said the brand, but I can't remember what he said.
But, even if I buy that 7-1/2 HP motor, that is still only $450.00 for a 24" planer with a very good 7-1/2 HP-SP motor. So, even if I end up putting in another $150.00 . . . which I don't even know what else I would need . . . that would only be $600.00 for an "all ready to go" (by that point) 24 inch planer with a 7-1/2 HP-SP motor. That is not too bad.
I do not mind the work part . . . I am no lawyer . . . my time isn't worth anything.
Besides, I don't mind investing some time in fixing something up to benefit myself in the long run.
Thanks a bunch for all of this feedback, so far . . . and, I welcome all future input you care to share.