Rb20det low compression no fuel

[ryangreen1]

Hi everyone, this is my first post here. My friends and I are looking to buy a cheap 240 to race at a local track. We stumbled upon a rb20det swapped 240 nearby on craigslist. There are a few problems that I wanted some advice on before we buy it. The guy has no idea what was done to it before he got it only that it is a rb20det swap. It has low compression (40 psi) and won't hold fuel pressure. He's "hardwired" the fuel pump to keep it primed, whatever that means. Unknown brand turbo with 14-19 lbs of boost. We were looking at buying this if we can get it running for a few hundred dollars. Forged internals are a bit expensive, so will oem replacement internals fix the compression problem? Also what would cause the fuel pump to not hold pressure? Bad injectors? bad pump?
Here's a link to the seller, hopefully someone can make a little more sense of it.
*Edited 3/10/13* 1990 S13 240SX *RB20DET R32 Skyline swap* (http://winstonsalem.craigslist.org/cto/3790781398.html)
Thanks