Ok, here's the (limited) skinny on my friend from Red River (with his permission to put it up here).
He purchased the pig from a mechanic friend of his in Questa, NM, in about '09. It had previously belonged to a couple from there who were divorced. The woman kept the title to it but never did anything with it, passing away several years ago. After her passing, the ex-husband took it to the mechanic and had some work done but never returned to pay for it/pick up the vehicle. After what sounds like quite some time sitting behind the mechanic's shop, my friend Mark stopped in for something and noticed it. He made a deal with the mechanic and bought it with the intention of restoring it.
Mark told me that when he picked it up it was buried in around 6 inches or so of sand from having been there for so long. Once he got it back to Red River he did some basic work on it to get it running. Mark and his family then moved into a new place and, as happens in life, had other things require his time and money so the pig sat. He eventually sold it (in 2011 on ebay auto auctions) and used the money he got for it to help re-rebuild a blue FJ40...which I lusted over the entire time he worked on it. Ultimately he found a MUCH nicer FJ40 which he ended up aquiring and sold the blue one to help pay for. That FJ40 he uses as a daily driver and I NOW lust after that one.
I told Mark of your intention to re-build the FJ55 and he was nothing less than thrilled. Neither he nor I know any more of the back story than what you just got, but if I find out something else I'll be sure to fill you in. I do intend to keep Mark updated on your progress and will be following it along (assuming you plan on posting it up on here). If I remember to, I'll swing by the shop where he bought it and see if the mechanic can tell me anything else. Mark and his family are incredible people (some of Red River's very best) and he was pretty excited to find out that the FJ55 was in the hands of someone who was going to get it running again.
I'm just sayin', but when this project is done you should bring it out for a steak and beer and to enjoy some of the perfect Red River summer weather (winter can just be too damned cold!). Cheers!