This kinda reminds me of a Jaguar a friend restored a while back. He said he ended up basically rolling a new car under the shift knob…
https://sacramento.craigslist.org/cto/d/carmichael-67-cougar/7490351929.html
That’s not a bad shell of a car, definitely a big project. Hopefully someone jumps on it.
When my tenant first approached me about buying their cougar. My was response was no.
But when I started doing some more research and seeing a ad like that. It was a no brainer.
All comes down to the condition of the frame. My guess is if the frame is solid and you show up with $500 and a trailer you have a project… a BIG project.
If the frame rails are toast. . Run
The work on that car doesn’t begin to compare with rust belt cars.
I’m old enough to remember when a car in that condition would never, ever be considered a restoration project. Well, maybe ,if it was your first… serious date car! Heck, I bet Don has cut up better cars than that! 
I know he has.
It’s kinda appropriate the pix is in front of Harbor Freight.