Newb here.

Ask yourself... Do you love the car and want to keep it?

I love my Duster and have had opportunities for other cars, but I want my car and am willing to sink money into it.

Either way this is a hobby and you are going to dunk $10k than $20k than...

I'm digging it, and I think for $12k you are going to have a wonderful car even with full body work. The large benefit is by doing the body work now your foundation is solid and new Basecoat/Clearcoat paints are much nicer than older single stage. Purchasing an older restoration for $10k could still have rust issue and older paint.

After you get the body work tackled here are some suggestions before you dive into the engine (Which you will want to).

1) Aluminum Radiator
2) Alternator conversion
3) Brakes
4) PST Rebuild kit

Great car!