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Legion, I still own a 1983 Nighthawk 650 which is very similar. These bikes are fairly trouble free as they have hydraulic lifters, hydraulic clutch and shaft drive. As far as I know, the 550 version has the same "modern" engine type whereas the 750 nighthawks still had the "older" CB based engines. The only red flag with the bike you are looking at is the fact that it obviously has been layed down. The forks may well be slightly bent which can often lead to some evil handling quirks. If I were you, I would have a very experienced motorcycle rider take it for a spin to see if it has any nasty tendencies prior to pulling the trigger. As others have stated, you can probably find many bikes in that price range so spend some time looking around.
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German autos: '79 911 SC, '87 951, '03 330i, '08 Cayenne, '13 Cayenne
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Men do not quit playing because they get old.... They get old because they quit playing.
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