Insurance will be retardedly low, as long as you remember you've had your m2 license since you were 16
No smog or emissions of any kind. High miles on a bike is waaaay lower than a car/truck, but I'd look more closely at condition and how complete it is. Remember, a basket case is that for a reason: somebody else likely had the same or similar intent as you, got into it and gave up when they realized how much effort had to go into it.
Stick with the big 4 japanese manufacturers and mainstream (popular) models so parts are more readily available, cause you'll likely need to replace way more than you'd expect to get it good. Look for a well cared for, running and complete bike and you'll be miles ahead. Honda cb models are abundant and well built.
