The headache will come with the character of the PO. If he/she is an insufferable [********] who likes to make other people miserable they claim to ATU that they never sold off the truck and though it was still in their brother's, friend's, mother's, boyfriend's, former roommate's backyard right where they left it six years ago.
On a positive/not-so-positive note looking through who research I've already done it looks like the PO is/was a soldier who left the truck at the mechanic's because he was shipping out and didn't want to pay to fix a truck he wouldn't see for a couple of years. If the solider is still alive (damn I hate the way that sounds) and of moral character he'll just say exactly that and the ball with start rolling. If he cannot be found then we're diving straight into the shallow end of the DOT/ATU bureaucracy pool.
For your second question I'd wait a little while to do any major modifications until we know one way or the other and fully document the repairs you do in the meantime. That way if it does go bad you can put a lien on the title for the work done and the PO can't argue damaged property.
I'll be driving around Saturday following leads - I'll keep you updated.
Also, in case anyone's interested Carmine is for sale at $1250.
Bonkers,
Any progress on the title issue yet?
She's getting real close to being road worthy! :D