Did I mess up buying this rust bucket?

standup303 said

Just bought my very first classic car. It’s a 74 Dart. Has a pretty poor but new Plum Crazy Purple paint job, new vinyl top, new seat covers, slant 6. I bought it with intentions of installing a V8 this winter.

The car had a rust resistant coating installed a long time ago, but the more I look the more I am thinking I may have screwed up buying this car. I have been looking at Eastwood products and POR-15. With enough wire wheel/sanding work and rust specific products, do you think it’s worth keeping and building?

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Actually on the grand scheme of things, it looks pretty good. One of your first moves should be join a local car club. Always a helpful few willing to help, and many will have body work skills. One or two can help you inspect it more closely. A wire brush on an angle grinder to knock loose scale off is good. Then a spray can of One Step or other rust converter is a good investment. It soaks into any rust and turns it black. This stops further rust progression. Then in the trunk and underbody you can apply POR 15 to further protect the metal.
Best wishes and enjoy your "new" toy.