Jim in Idaho,
If you are going to look at the CT110 that you had pictures of in the "other thread" here are some things to look at;

Shine a flash light down in the gas tank, look for rust. Very common issue with today's fuel.
Put the bike up on the center stand, grab the front wheel/forks when its off the ground and try and pull it back and forth. Any movement is an issue with the steering bearings. Many had a "release" handle to move the bars, if not adjusted right it beats the bearings up.
Go to the back wheel and move it (roll slow) hold the sprocket and see how much the rear wheel moves. Any real movement means the rubber "cush drive" is shot.
Try and pull the chain away from the sprocket, if you can move it any more than half way up a tooth, then the chain is stretched. Look for "hooked" teeth.
Not sure of the year, and when changes were made most had a chrome muffler. This one may have been painted because of rust. I have seen these mufflers rust out. Check the mounting holes for the missing front heat shield. Not that easy to fix. Others had clamps no issues other than replacing it.
Check the front fork seals for oil leaks and rust on the fork tubes.
Rear shocks for oil leaks.
Check the twist grip for smooth action, sticky twist grip is common usually from a drop or fall.
Tires for weather checking.
Ride and switch the high low range, these can get sticky from non use.
Check the rubber tubes and air filter for cracks rot etc. Common for older ones to be falling apart internally.
All the normal stuff, lights, horn, cables, steering lock etc.

These Honda's are pretty easy to fix, but at the money you said he is asking I would not accept very many issues. I do see nice clean ones going $2K+ in my area.