I have a C&R license. How can I buy a C&R eligible rifle or action which I intend to use to build a custom "modern" firearm which may be sold in the future? If I buy it from an 01 FFL or private collection and log it in my logbook then I can't modify it and resell it later, right? If I don't log it in and it is C&R eligible then I'm in violation of the law, right? What's a guy to do?

I would think the easiest way to avoid any legal complications would be to buy the rifle from a 01 as a private citizen. In other words don't use your c&r and go the 4473 route instead. Then you can convert or modify as if you were buying a modern action. You don't need to log such a rifle as it is not part of your collection purchases and wasn't bought using your c&r. Once modified, it is no longer considered a curio and relic.

This is my educated guess as a fellow C&R holder. I'd make sure by checking with ATF directly.

cofk,

Personally, as a fellow 03 FFL, I'd buy as C&R, log it in, log it out to yourself WHEN (if) you actually modify it.

May want to check with these people:

http://pub176.ezboard.com/bcurioandrelicfirearmsforum

LOTS of knowledge there re: C&R.