If I were considering this bike, I'd be more concerned about the condition of what's going to be left after you remove the fairing.
Parts are getting scare and expensive for GS1000's.
It would have to have a serviceable non-leaky tank, petcock, and Self cancelling turn signal control unit. These parts are hard to come by and now hundreds of dollars.
How about the chain and sprockets? Tires and tubes? Anything older than 5 years should be replaced regardless of the tread.
The seat, well do you like it like that?
The pipes are rusty it appears. Stock mufflers are hard to come by in decent condition.
Would you have to pull the carbs and put on new carb boot O rings?
You may have to do more work than you want too, and with that, expense, tools, and time. Do you like to use your spare time for wrenching?
Is this a hobby or needed transportation?
51K on the clock is probably double of what I'd want the max mileage to be.
There's been several nice GS1000's posted lately, and I thought the prices were pretty good.
This could be a good project bike or a bike to get providing you already had alot of spare parts, maybe a parts bike, and know how.
Anyway, if you have the strong desire to get it, you can look at what was a train wreck when I got my '79 GS1000E and with lots of time, effort, looking for parts, and money, you could make that look like this.
Had I had the chance to do it again, I would've waited for a bike in better condition to start with.
P.S. My tail piece had an Iron Cross on it!
