Personally I`d not buy a car that was "just painted" either...you never know how well the body work was done.,... a few years old job would better tell...but if done 'right'...it should be worth the money....
myself , also would probably not get out what I have in mine, at least right now....I now have over 23k in it, but maybe after a few years ,as values rise......
I feel that if Kens car is done 'right' and he has the info to 'prove it'...it would/should be a 10-12k car...if basically all you need to do is add a motor and go..