Maybe consider buying a KLR that is already set up? You may even find one in S. America, ready to ride. I've seen several for sale here on HUBB, mostly in Buenos Aires.
In California I've seen quite a few KLR's with all the essential mods already done on the bike, but Mark and Mark have out lined the essentials and the KLR.net site is
good for learning all about KLR's 20 times over.
A good shakedown tour should really help determine what you need. My guess is by the time you get from Michigan to the Mexican border you'll have a pretty good idea about what you need or don't need. I'd opt for a pre-farkled bike done by someone who knows what they are doing. This will save you thousands and you'll end up with a bike that will make the trip without problems and be a nicer ride over a stock KLR.
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