I would appreciate any and all feedback, because I need to make a purchase decision tomorrow...

There is a local classified ad for 2 volvos, an '87 240 and an '89 740 (both B230F and auto trans). I went to look at them yesterday. Externally, both are in excellent condition with no rust (lifelong North Carolina cars), and no damage. The interiors of both cars are also in good shape. Mechanically, they need work. According to the mechanic of the lady who is selling the cars, the 740 needs a transmission (AW-70L) and the 240 won't start (reason unknown). The lady who owns them (and let's her college daughters use them) said that for the last 4 or 5 months, each of them has needed $300/month in repairs (brakes, tires, suspension bushings, timing belt, etc), and with the latest batch of trouble she got fed up and bought 2 new camry's to replace the volvos.

They each have about 160,000 miles. The lady wants $1100 for both, and I could have them towed to my house for $100, for a total investment of $1200.

I can DIY almost everything (and I have the time), and I know where I can get a guaranteed-to-work AW-70L for $200. I figure that a 240 no-start condition could cost as little as $0 (for a bad relay) and at most maybe $100 (for a junkyard ECU). They both probably need other miscellaneous parts, so I'm thinking I could have 2 decent, working cars for $1500-$2000 total. Then I would sell them, which in my area would easily bring $1500-$2000 each.

So... am I crazy?

I would not worry about teh 544 ECU on the 87. Pretty sturdy. Connection need to be good but teh ECU has no failure history. You would be crazy not to buy thes cars at that price.

Go for it. Your reasoning is sound. For the 240, check that *****! balde-style fuse on the left side under the hood, and the fuel pump relay.

You must not be married... or have a highly tolerant wife!

Sounds good to me, but being as you are buying a pig in a poke ( actually two of them )it wouldn't hurt to try to talk her down about $200