If the FAA PPL is a FULL PPL, i.e. not based on a foreign one, then no Type Rating required. If someone will insure you to fly it then it can be flown VFR by the low houred PPL (assuming complex, high performance and high altitude endorsements are signed off). If instructor instructing the owner in own aircraft, e.g. carry out IR training, conversion training, you name it, no problem. You don't need special "FBO" insurance to have an instructor train you in your own aeroplane - many insurance policies cover "instructors" anyway, mine does, so I can just pick up an FI and say "train me" and they are automatically covered. You could name them on the policy if you wanted too...
Would be a good way to train to do it on a ferry flight somewhere.
Do Piper do a factory training course? That might ease insurance