Yes. I agree with you all. The goal is not to resell this bike, so I am not too worried about making my money back, I just have feelings for it and I love experimenting and learning new things. I think it would be best to just go retrieve my bike from the neighbor and do what I can with it myself. (The neighbor and I are in no way partners)
Originally I simply wanted to restore the bike back to its 1970's glory. However I've been looking at youtube recently and damn... https://www.youtube.com/watch?v=0a5sL5WDnHs
So far the things I've taken apart and put back together successfully have been limited to: typewriters, lawnmowers, dishwashers, cell phones, automotive headlamps, and one lawn tractor. My grandmother was an airplane mechanic during WWII in the Marines and I'm hoping I've inherited some of her better genes, this should be a good test.
I did go back to his shop, and while I couldn't get a good angle to take a picture of the gas tank where the rust spots were starting to show through (he had many snow machines and ATVS crowding around my bike) I did get the chance to verify that the rust blooms were in the areas described by iatethepeach "At the outside bottom edges where it's welded, especially toward the rear, and of the interior looking through the filler opening." To my neighbor's credit - I do think, after closer examination, that my gas tank was rusting from the inside out.
While I 100% think I could have easily derusted the inside of the tank with Metal Rescue, or chains and vinegar, and a good scouring. I decided to go with a replacement tank, the price seemed right and I liked the look of the tank and did not want to reseal. The Bike Boneyard in Missoula, MT. had a pristine replacement tank for $75.00 and an equally pristine exhaust system, also for $75.00. They came in the mail last Saturday. I'm including some more "crappy cell pics" lol. I'm also including the parts list my neighbor came up with (great suggestion ApriliaBill).
Von Yinzer - If your buddy does have any spare parts, please let me know, that would be great!
Thanks Again -
Jet