Thanks for the quick replies.

I have been assured that the owner will see that it passes VA inspection and emmisions. I forget, the tranny fluid should smell a certain way, which way means good and which smell is bad? When the manual switch is pressed in and lit on the dash....does that mean it won't shift into first gear and that it starts out in second?

I'm thinking $3,500 max + the potential cost of a tranny rebuilt ($2,000 - $3,000 if I'm not mistaken) which equals around $6000.