Should I buy

[Dragon]

Found a 1972 CB750 today that I can buy for $500. Bike runs but looks like crap. Decent deal or run?

[Re-run]

Without a closer look, it is hard to say. It looks like a  different frame, if so, you may be able to sell it and get a normal frame. If it is a chopped frame, it could be iffy.
It would cost a fair amount to get the bike back to somewhat stock so if you do not like this look, you may want to hang onto your cash till something you like better comes along.

[wvhardtail]

I would have to agree with re-run. If you want a chopper it looks like it could be a good deal. I am building a hardtail chopper and it's a lot of work. I would think it would be more so to go back to stock.