I'm strongly considering buying a car that needs some work for a fairly decent price.

It needs brake and clutch hydraulics replaced, has a small exhaust leak (whole engine bay is covered in soot, K&N filter is black), suffers from Random Coolant Buzzer Syndrome (temp gauge was in the middle after warming up for a few minutes when I checked it out, it's an S5), and a few other problems that I won't go into...

but my biggest worry is whether fixing the fact that it runs rich as hell (you can smell gas, and the spark plugs are black) would turn into a money pit...

What sort of things can cause running rich (as well as a rough and slightly high idle)? The exhaust leak? The fact that it has a mid-pipe? Maybe a vacuum leak, or does it just need a tuneup? I figure maybe the O2 sensor would need replacement, and the AFM would need adjustment or something... (AFMs can be adjusted right?)

For the record, I haven't been able to actually drive it because of the aformentioned hydraulic problems, so I haven't been able to check everything, and I'm wondering whether I'll end up with a decent daily driver with a bit of work (and a bit of cash), or a monsterous money-pit.

 

It would end up costing you alot. You can get a good S5 for around 3-3500. Save your money and keep searching.

 

I bought a project like that as well, an FC with no spark, i did everything imaginable but still no spark, the guy before me cut up and spliced everything under the dash. I ran new wires everything, i just ended up parting out the car and starting with another...

 

yeah seriously man ... i hate to break it to u but byuing an fc weather ist an s4 or an s5 .... its going to be a money pit .. especialy if u spend less that 4 k ...... i bouthg tone for 1700 ..... its in amazing shape but the tie rods and ball joints is going to cost me 1000 not to mention i have to replace the tranny mount ...... so .... its gunna cost u