Actually you can get a museum perfect japanese bike for that price and still have money left over for blumpkin from a hooker.
I had a friend who was a New Orleans Police officer (a couple of years ago) and he was putting an iron head sportster engine in a 916 frame. I thought it was a real cool idea, I wonder if he ever completed it.
What ever you build with that you know it will be distinctive. Might be a good start for that vtx cafe project someone was talking about in another post.