That '01 has had five owners? That's not too comforting IMHO. I doubt it has been cared for - most likely abused/thrashed. If the car had one or two previous owners, it would have been an "ideal" situation (ie - could ask them about the car's history, maintenance, etc). With five previous owners, getting that information is next to impossible - you'll have no idea about what has been repaired/damaged/replaced/etc. Again, I'd stay away from that deal, suck it up and repair your current cobra since it has some nice mods already in it.
My .02