Halfpass- Agreed. I like to explain the options that she has if she does decide to buy and race- from the "inside". Its something I have been doing since I was in high school, and I now own and train my own. There is the good, bad, and the just plain ugly to racing. And this is a lot of what people don't know.
While I agree in investing in a younger horse who hasnt had the time off like this one has, its going to cost more than $300.
Let me put it this way... there is a REASON that hose is $300. It may not have anything to do with soundness, it could just be the fact that he can't hold his own as a racehorse, some just can't. Some don't want to.
I wouldnt focus on bloodlines. Really, it means nothing in the end. I have had horses that were bred crap to crap and made awesome racehorses. And I have had racehorses bred out the butt that werent crap. Look at my one mare... she's is BRED out the BUTT I mean BRED! But really, she's nothing as a racehorse. Her personality gets in the way of her racing. Sometimes she will whip out a win when you least expect it, and other times when she's racing against horses that can't beat their own shadow, she's crap and just sucks along. So unless you're looking for a broodmare prospect, don't focus on bloodlines. Its about the horse, his conformation, soundness, and HIS PERSONALITY. A horse can have allll the breeding and talent in the world, but with a personality that is conflicting, you have nothing.