Welcome to the addiction...
First off is a couple questions. Do you know the history of the car? If yes, how long has it been off the road and what kind of work has been done recently? If you get that information you can derive a plan of attack.
I always go over everything safety first. If you don't know the history, new wheel cylinders, rubber hoses and master are always first on my list (plus shoes and hardware kit if worn) Parts are inexpensive for quality ones, and like said, you don't want to cut corners on safety. Next is tires. If you know how old they are, and they are fairly new and in good shape, great. If not, replace them. Also a good idea while the brakes are apart is to service the front wheel bearings (new grease and adjustment...replacing any worn parts while at it). After all this fully inspect front end components and replace anything that has play or wear. Again, parts are not that expensive.
Once the car is safe to stop and steer, then look at getting it running and driving. Check fuel tank (never hurts to drop it and clean it out and replace if crusty). Check all fluids and work on getting it running. If the fluids look exceptionally dirty, replace them first. If that goes well, look for leaks that will need to be addressed and consider changing the worn belts (always a good insurance policy). After its running good I usually change all fluids (engine, transmission, and rear differential). If oils looked ok before I wait to replace them as if the car is running rich you don't start dumping fuel into your nice fresh oil.
Once this is all done and you have a safe running and reliable driving car, work on making sure all the lights work so you can drive it and work on it as you enjoy it. Obviously your budget will dictate how you approach it. Don't get overwhelmed, just pick and item, check it and fix as needed and move on. These cars were made to be worked on.
Again, if you know the history, you may be able to skip some items, but only if you KNOW the history, not what the guy tells you. Quick and easy to pull it apart and be sure of what you have. More than once I have bought a car that had "new brakes" and pulled it apart to find almost metal on metal.
And most of all...pics are a must!!
