Something seems pretty sketchy about this. He bought it from a gov't agency, but couldn't get any records? Without the logbooks, it'd be a pretty tough sell to ever fly it again without replacing the engine, blades, transmission, tail rotor, or any other of about a hundred service life limited parts. You might be able to get an experimental ticket for it, but then forget trying to fly for hire.
If you could fly it away, $175K for a Huey would be the deal of the century. Sadly, if it's as it seems, it's just a really expensive lawn ornament.