Can you do the work yourself? Are you able to weld? It just has to hold together not look pretty, that is what a skim coat of filler is for.
Mine
both wheel wells rusted and mostly gone.
quarters 50% gone on Driver side
Interior has many holes (about 10) including the drivers foot area.
Frame is ok IT will last for another # of years but will need attention in 5-7 years, but then i will tear the whole thing apart.
I pickup up some patch panels for the quarters and wheel wells
I have almost finished the drivers side wheel well.
Fixed the floors (welded patch and then seam sealed)
and now am starting on the passengers side.
Unless the rig is completely gone nothing cannot be be repaired. From repairing the frame to the body.
For what ever reason everyone must have a rust free body. But lets face it, they are getting harder and harder to find. my FJ had a rebuilt engine, new clutch, new radiator etc etc. All in all about 8K invested in repairs or upgrades with receipts in the last 5 years.
Rust can be repaired easy. Metal bends. If there is mechanical work done with receipts and the rust looks repairable then go for it.
Paint. That will depend on what you want. When i had my Chevelle painted it was 6K to do. It looked awesome when done.
While my FJ will be my daily driver a cheap paint job can be done for 2K or less depending on who does it and how well it is done.
So the moral is this. If you can weld, have any clue how to do body work you can save a ton of cash. Just get receipts for any work that has been done.
Factor this
Cost of the rig
Cost of repairs
Cost of upgrades (tires, bumpers, suspension, anything inside)
Cost of budy work (metal does cost money still)
Cost of Paint
Add it all up and look at that total. Now see what you can find that is already built and compare
Had mine not had all of the mechanical done I may have passed. I am glad I did not.
One thing for sure you will learn alot