I need opinions
 

I am thinking on buying a 1980 Z28 that needs papers (how hard is it to track down) and it needs a tranny, I am guessing the original owner doesnt want the car no more. This is the story behind her...

The car is originally from my hometown, the original owner took her to a scrap yard where she waited out her days to be crushed that never happened because the speedway took her and wanted to make her a hit to pass car but a guy I know saved her but unfortuantly the speedway ripped out her tranny and left the engine in it. Now I want to buy her for 800obo and hunt down the original owner and hope he will say the car is mind and give me the paperwork then stick a turbo 400 tranny my friends dad will sell to me in her and I will be left with a beautiful Z28.

punctuations are your friend.
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There are companies that can make a title happen for you which would mean the car would be more than 800 bucks. If it is in decent shape without alot rot, then it could be worth it. Otherwise there are plenty of other deals out there besides a prior crusher/racecar that needs a title and trans.

If the original owner sold it to the scrap yard maybe a title and missing transmission aren't your only problems. Just because the motor is in it doesn't mean it's going to run. Have someone really go over the car and see what else might be wrong/missing/rusted/etc. Then decide if it's worth the time and money to get it.

Have you talked to the scrap yard owners? I know in Florida it's illegal for them to have a scrap car in their yard with no title.