Welcome to the HQ, and it doesn't matter what it looks like now, its what its goind to look like after u dump $$$...$$$...$$$$ into it. Don't worry though, ur going to love the addiction, and grinning & giggling behind that helmet after dusting those high displacement 4 pokes.
If that bike is stretched a little, they could have left the stock shock on it and without stiffening the spring its going to squat quite a bit. Im only 170 at most with a +4 swinger and left my stock one on and love it for pulling hole shots for dragging, may be a little to soft for jumping, but I don't do much of that any more.
Good Luck with it, and have fun fixin it up the way u want, thats the fun part. If you plan on having any motor work done, make sure u check out our sponsors on this site, some of the best there is.