I purchased this 265 about a week ago for $350..It was sitting 12 years in a garage and I'm bringing it back to life..
So far I have..
Flushed out the gas tank.
Replaced the rubber fuel lines.
Changed oil and filter in the transaxle.
Changed oil and filter in motor.
Changed the drive belt.
Ordered a new carb and fuel pump..
I have also started repairing some of the rust. I figure I'll give it a 10 footer paint job before I start resembling. I will also have the deck sandblasted after I get the tractor back together. I'll check all the bearings and replace the belts..
Once I get ready to start this thing I plan on pulling the spark plug and turning the engine over a few times to get the oil moving.. My concern is the engine has not run or had oil flow through it for 12 years...I don't want to stress under-lubricated parts.. I guess I will see what happens.. When I pulled the battery it had a date of 2002.. lol...
Here are a few photos..