I see that the OP has already bought the bike, and congratulations. For future readers, I have to strongly recommend the VF500F Interceptor,...
My 86 750 has a similar noise , when cold, and in cooler weather, sounds like a bag of hammers in the crankcase. I had looked into this noise some...
The body panels are identical for all 86-87 Vfrs, whether 700 or 750, with the only differences being color and decals.
Sounds to me like the cam lobes may have departed this life. I hope I'm wrong, for your sake. Good luck.
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