I have become interested in Cobray/SWD stuff and came across these M-11/9 receivers on GunBroker. I know nothing about these, nor the laws surrounding them, but they look cool. Are these an NFA item, cash and carry, or MSP regulated? Is there any legal configuration in which these can be built? Would it make more sense financially to just buy a semi-auto Cobray?
http://www.gunbroker.com/Auction/ViewItem.aspx?Item=460641868
http://www.gunbroker.com/Auction/ViewItem.aspx?Item=460641868