value on a 96 gsr with a spun rod bearing/knock

[Schugg]

i have a 1996 integra gsr, 2dr, 5spd, 215k+ miles, that im about to possibly buy. he said it has a spun rod bearing and a knock. they guy who found it for me said they guy wants 1200 but said to tell me 1500 so im going to offer around 1000 or 1100 and see what he says. do you think this would be worth spending that much? i either have to plans,

A). fixing the rod bearings whatever and using it

but being that its knocking i dont see replacing the rod bearings fixing it, so

B). just building the motor motor up for a turbo.

this seem like a good price for either one of those plans? he said its still runs just knocks, is it possible that i wont even be able to build the motor depending how bad the knock is?

either way i have the money for it now but im buying a hatch, ill end up getting this tuesday more than likely. here are some pics of the car i found on another site on when it was for sale in 2006, hopefully its still in the condition, not great, buts its good