I finally have my salvage Box on the road and running nicely. It took some work, but it's a good running car now and I learned a lot in the process.
Originally purchased for about $2,000 at auction as "flood damaged" salvage.
The "flood" didn't reach as high as the fuse panel and I thought I might get away with just doing the immobilizer and DME to get it running. Big chunks of metal in the oil filter killed that dream, but hey: I got the car for the cost of the wheels.
Not easily discouraged, and curious about what is inside these things, I drove on and got a front-end-wrecked '01 for a heart donor. I pulled apart both cars, did maintenance on the donor engine while it was out, then got everything installed back in the project car. I learned a lot in the process and managed to convince the wife that I needed a to buy a few tools to fix 'her' new car, so despite the cost, I count it as a win.
I am not running a balance sheet, but I am sure that I could have found a decent 01 base for about what I have into this one, especially considering the "flood branded" title it now carries. The pluses that tip the balance for me are that I have now done an engine swap, IMSB, AOS, fluids, hoses, belt, etc and know a lot more about these cars than I would with a "turn-key" purchase. I also have a three-wheeled parts car with a nice interior to spruce up my '99 with, sell parts from, and use as a test platform for a possible future non-Porsche engine swap.
I still have some minor cosmetic issues to clean up, but she's ready to drive and a ton of fun. I really thought that with the 275s on the rear it would stick to the road like it was on rails, but it actually broke them free and drifted pleasantly around a few corners when I took it to the park

Too bad it's not top-down weather any more.