Originally Posted by Navin
Why not door #3? A newer bike with low miles?
Or door 4? Older and high-miles? The upside of a project bike is that the rider gets to know it pretty well before putting significant miles on it. But I like mechanical work. I've seen others start with projects and learn pretty well how to do the work. I choose older bikes and don't usually believe the odometer (a '75 with 16k-miles wouldn't be that worn-looking).
Your friend said he wants to learn to do the work. The BMW has good parts availability and many sources of information and tutorials. It's not like he was looking for a diamond and you sold him some coal.
"The belief that there is only one truth, and that oneself is in possession of it, is the root of all evil in the world."-- Max Born, Nobel Physicist