Due to the age and type of repairs you're suggesting, I'd guess there's a reason it's cheap. Low cost doesn't mean good value. Thinking back to the days when I too was inexperienced, I shudder to think of all the things I did and messed up. On the other hand, that's how we get experience. There's probably a fifty percent chance you'll give up and resell the vehicle for even less than you paid, and a fifty percent chance you'll give up at some point and just drive it with all its problems. It all depends on what you mean by "redo". If you want to restore it to like new condition, forget it. Experts at restoration shops use their experience and training and lots and lots of time and money to do that to any vehicle regardless if it will be worth $5000.00 or $50,000.00 when they're done. It costs the same to do the same work to a '71 Hemi Challenger convertible and to a '71 318 c.I. Challenger hardtop, but cost of restoration has no affect on value when they're done.