Is this car worth 8000

put some new parts and maybe paint, then sell for profit
Zero profit in that car ever.

If you want to flip an A Body you are going to have to be incredibly lucky to find one that the seller just wants to get rid of but is a clean driver, maybe needs the paint restored.

A car that has been that modified to race will take 10s of thousands to undo the damage.

If you want to race it you will most likely be in another 5 to 10 K to bring it up to snuff.

If you had a shop and could do ALL the work yourself in a top notch professional manner maybe you could make a profit. If you do not count your time as money.