Trying to create a kick-ass cheep guitar

I'm a big guitar freak. I must admit that. I think of them all the time and spend most of my money on those poor things. The reason why I'm writing this is to just possibly show that you don't need a huge amount of money to build you a nice guitar.

So as a finn my sources of guitars are a bit different than they would be in USA. We don't have Craigs lists or nice yard sales exactly, but similar things. One of the best and most famous is muusikoiden.net which is aimed for musicians. It is a bulletin forum that has plenty of users and very active sales forum. So 30th of May this year (2014) I saw this really nice Yamaha Pacifica 102S(X) for 70€. It was in this kind of shitty condition, but the wooden parts seemed to be ok.
Plastic parts were either missing or new diy-design. One of the tuners was replaced, neck pickup was gone and body was scratched.