I spent about $2000 on this project all together.
$100 for original cycle
$500ish for motor (used on Ebay)
$300ish for New Alltrax AXE 48v 300 amp programmable controller
$160 EACH for 4 Optima yellow top 55AH batteries.
I am also including in this total cost, a motorcycle safety class, new helmet, a year of insurance, lots of little trips to the hardware store, etc.
I am still trying to figure out how to fit that last battery in there.
Here are a few more photos.