Buying used with rebuilt engine?

How do you guys feel about buying a bike with a rebuild engine? I know it's probably not optional but I'm looking at one. Is there any specific questions to ask? The bike I'm looking at is a 98...

Thanks!
Chip

 

The first thing I would ask is why the engine was rebuilt. These engines can easily go 60K+ miles and even higher. Is it a high mileage bike or was there some other problem. I'd also ask who did the rebuild to try to get a comfort level as to whether it was done right. Good luck.

 

I misread the ad... it was a rebuilt title.. not engine..

Here's the ad:
1998 honda vfr800 rebuilt title. fun bike really comfortable on long rides. tags are up to date. vance and hines exhaust almost new back tire oil changed regularly, recently flushed the radiator and put new spark plugs in. it also has a brand new (like two weeks old) fuel pump. now the bad news it has some electrical issues so it runs good until the engine gets hot and then it starts acting up a little because the wiring needs new insulation. it has some rash also but that's why its so cheap i'm asking far less than this bike is worth even with the wiring insulation problem. i'm only asking 1200 obo.

How does that look?

 

So it sounds like it has a salvage title. Now, the first thing I'd ask how it was wrecked. You'll really want to do your homework on this to determine the extent of the damage and whether it was fixed properly. Even then, you have an electrical problem.