If you buy the truck for $200 to get the title and strip off the dunp bed you would end up with about 5000 pounds of junk steel. Junk steel is selling for about $5 per 100 pounds (check the going rate in your town) making the rusty remains worth about $250. So in the long haul you end up with a dump bed and a title for free (less your time).
Go for it!
Mike B
