A few thoughts...
Is this the rig that you picked up for $800? If so, the fact that it runs at all is a good start!
Is the engine original or has it been swapped for a V8? If there's been a swap, it's a whole new ball game, but still doable.
Was the rig sitting for a long time prior to you buying it? If so, the passages in your radiator may be clogged. Any radiator shop can "rod out" the radiator to remove any internal blockages and pressure test it for leaks for less than $100.00. (usually)
Is there a fan shroud in place? If not, this may be your problem. The cooling system is totally dependent on the fan to move air through the fins of the radiator when the vehicle is stopped or moving at low speeds. As speed increases, so does airflow and the fan becomes less important.
Is there any blockage (debris, leaves etc...) preventing air from flowing through the radiator? If so, clean it up.
Is your water pump toast? WITH THE ENGINE OFF, grip one of the fan blades and attempt to rock it back and forth while watching the pulley of the water pump. If the pulley rocks, your pump is hosed.
Hope this helps.