Very good question.
I still seem to be asking myself that after being at the beginning for a long time.
The good folks here will chime in with great advise.
I have a few questions for you. Please forgive me if you answered these before but I don't think that's the case...
What do you have for a place to work on this?
What tools do you have?
How about skills? Welding. Body work. Mechanical. Electrical. General fabbing. That sort of stuff.
Friends to help?
Welding equipment?
Tools?
Budget?
What is the goal? What type of car are you looking for when all is said and done.
Title. Have a legal title for this or a plan? That's job one.
I believe that those are a few things that need to be answered before most folks can give you serious answers of direction.
My main area to be able to help you with is getting rid of that rust. By the way, the Nova Scotia climate makes me a reluctant experienced person. I hate the term expert.
You have many choices.
Blasting (my least fav.), reverse electrolysis(great), molasses and water (really great but slow... as molasses.. don't laugh if you haven't heard of that method), acids (ick except for Oxalic Acid), Evapo-Rust or Safest Rust Remover (fantastic if you have the $)... and the list goes on. They all have their place.
When you get to that stage.. ask.
I am thinking about doing a tech-post on the subject if the guys are interested.
Remember to keep it fun and safe. When those two things start to go away.. it's not good.