I believe I mentioned this in another thread, but here is it done. Picked up a craftsman for cheap a while back, with plans to resell. When I got it home it was a little rough...
Deck brackets broke, got welded.
Deck leveled.
Blades sharpened.
Seat replaced.
New battery.
Engine cleaned, full of mouse nest under shroud.
Spark plug and oil.
Starter gear replaced.
Replaced headlight lens.
Adjusted brake.
Pressure washed.
Painted, some new decals.
Checked belts, pulleys, belt guides, steering, and tires.
I got it for 50, then 70 more with gas, parts, and paint, for a total of 120. Probably 6-7 hours of work, including going and getting it. Going to try and sell around 300. That would net me about 25 an hour, not including time spent selling.
So that's decent, if it sells. But it goes to show you can't buy a 150 dollar mower, fix it up and still make a decent profit. I'll pay 150 for a mower, but only if I am keeping it, and it's nice.
Here's some before and after pics.
After