First Project Bike Help

Hi Guys,
I'm new to the forum and I'm looking for a first project. I've always wanted to but finally saved up the money to start one. Right now I'm trying to decide between a few donor bikes: a 73 cb500 four (ok condition, running but looks really run down $1500), a 76 cb550 (perfectly clean condition but the guy wants $2000 :-\), and a 77 kz650 ($1200 and the guy says "minor oil leak" but was "rebuilt" by the previous owner). I'm mechanically inclined, but I don't want to be dumping too much money into a project. I'm looking for a quick bike through the corners but something that won't be screaming on the highway. I'm looking at the three this weekend and I was just wondering what everyone's opinions were on each bike and the downfall of each year/model.

Thanks

Oh and yes, I will post pictures when I do make a decision

Get the 550. It's my favorite of the Honda SOHC fours and that's a decent price if it's in good condition. Also, ride it for at least a season before you mess with it. Then you'll have a lot better idea of what you want to change and will probably end up with a better finished product.

I would buy the 550 and ride it for a while and fix any kinks. Then start hacking it.

+1 to the 550. I have ridden many CB400F's, CB550 K and F's and CB750K's and 550's are just right.

+1 for the 550. Clean bike means less money. Look for rust on spokes/rims/tank, actually everywhere. Light rust can be conquered with metal rescue or Apple cider vinegar but heavy rust means new parts. Brazing a gas tank full of pinholes can become a tedious and spendy process. If you can take a compression tester and a bit of oil with you to make sure valves seat and piston rings are decent it may save some future headache.