Stop in for a cup of coffee

I always wonder why when I see something like that - as in, why isn't the current owner just putting a 318 in it and selling for 5-6k? What's wrong with the car that they don't want to make it a driver? (which is always worth more $$)
So if it really just needs a motor and he can talk the guy down some. Drop in a 360 and flip it...