absolute newbie question

Hey guys I have to say i love the forum and its definatly turned me on to cafe bikes. Im new to motorcycles and just founda cb500 for sale but it has trouble with first gear . I was wondering will i be hating myself for buying this thing? its going for like $2000 and everything looks nicely rebuilt I just have no refferance as to how much i will end up spending on getting first gear working as im new to all this.

Thanks in advance

If I were in your situation, I would not buy it. There are much better deals to be had. (At least around Oklahoma) Wait and find something that has minor and/or aesthetic issues that you can fix and learn at the same time.
If you absolutely have to have it, get a quote from a mechanic before purchasing it.

Somebody tell me if I'm absolutely in the wrong direction here.

Spot on...that guy is trying to rip someone off. granted the fix isn't that expensive, but you shouldn't be selling a bike in that condition.

I bought my CB450 in *fantastic* condition for 1850, and that's in Seattle, where prices get driven up by all the hipsters. If I were you I would definitely pass on it. If you're going to get a bike that you'll have to fix up, there's much cheaper deals to be had.

If this bike is in pristine condition except for 1st gear, maybe offer the dude 900?

Skip it (like you need another opinion). Lots of nicer bikes out there for less money. I love the CB500 though - keep your eyes open for a better one.