Although the motors and gearboxes on these are robust, service history is important. Regular oil changes etc.
Low mileage older bikes are not unusual or more recent high mileage bikes.
40k is not a lot on a Busa as long as its been regularly serviced and oil level maintained.
With modified air filters and race exhausts, they should have been remapped for fuelling to avoid fuelling issues which over time can cause engine damage.
Not many factory recall's except the cam chain tensioner on early models which should be logged with Suzuki US. I think it was pre 2001?
Check: chain, sprocket, tyre, pads and brake rotor wear, they do eat em.
The Busa is tyre sensitive and even slight wear on the front can make the bike feel unsettled on the road. They eat tyres anyway like you wouldn't imagine.
A rear tyre can easily go in 1000 miles and I found I used two rear tyres to one front.
It's not uncommon to go out for a days riding with tyre tread and come home with metal showing, so watch out on that score. The bikes are heavy (compared to pure sports bikes) and powerful, combined with hard throttle use and a chunky rider and you're into major tyre usage.
On early models they had a rough vibration patch at about 3500 revs and also a false neutral between 5th and 6th on some bikes. You just have to remember to make a positive 5th to 6th change.
The graphics aren't great and panel replacement is costly for OE parts.
The bodywork is a snug fit or should be. This is for the aerodynamics on a 200mph bike. Big panel gaps or badly aligned panels could mean its been on its side and got straightness issues or just poorly fitted panels.
I tend to get the bike upright on a paddock stand or get someone to hold it and then stand right behind the bike and check the lines of it for straightness. Tail unit, cans, bodywork, wheels etc.
A small but significant issue on older bikes is the pad retaining pins in the frontbrake calipers can weld themselves in place and require some major shifting. The old differential metal corrosion syndrome and they do literally weld themselves in! I almost broke a calliper hammering the pin out on a 38k miles unloved Busa I bought.