Make sure when you replace the clutch cable/lever, you understand that Police bikes have to be clutched to start. It's a "safety feature" read: anti-theft. Make sure you get enough pull to override the kill circuit.
I own an '05 FLHPI. Picked it up with 2500 miles on it. They're only cheap because people think they're ugly. And dealers have a hard time selling bikes with a perception of abuse.
Fact is, those safety cages on the outsides of the hard bags are an add-on to any stock RK. As are the crash bars. Plus the Police bikes have higher output alternators to account for all of the extra lights. So your charging system is very efficient. And...they're meticulously maintained. Most have been dropped as a pursuit technique, so don't let the frame scratches dissuade you. They're also fitted with 1-up tires. You'll want to replace the rear if you plan on a passenger.
For $4600, the bike's worth it for parting out alone. If it runs, take the tins off, have 'em painted up, fix the clutch cable, and snag bags off of ebay or a swap.
You've got a bagger for less than $8k...
Use it as your winter bike.