<VV> Volt Reg, Gen & Other Questions

[Shelrockbored at aol.com]

We have had a new member to Long Island Corvair (LICA) who has  trouble.
 
What could cause a Voltage regulator to visibly switch on/off causing  
lights and other items to pulsate?
 
Could it be a bed voltage regulator?
 
Bad Generator?
 
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Another new member might be selling an old gas heater.  What would be  a 
fair price for:
 
- a functioning gas heater?
 
- non-functioning gas heater?
 
Steve Sassi
LICA