LOOKING FOR THE RIGHT CAR

Well Scott & the boys have discussed working on a car for years...keep in mind my boys are 13, 10 & 9. So ever since they could say the word "car" my boys have wanted to own their own. Maybe it's in their genetic make-up or something? Anyway, KC spotted this car, we assumed was an MG down the street from our house. He convinced me, Mom, to stop and gawk and dream and we did. It's an old, navy blue, 2-seater, convertible, no headlights, doesn't look like it's run in years, car. Not an MG. We got the # off the window and called the guy who owns it. The old car is actually a 1970 Triumph Spitfire and he wants $1000.00 for it. I told Scott, we looked at it as a family and an adventure materialized. Let's buy this car and rebuild it. Color theories started to flow, body ideas, speed, interior, new tires, new rag top, luggage racks for the old trunk, what is possible?? T came home and started surfing the net for values and other stories of restorations. Ri silently watched T & KC surf and talk and surf and talk. Scott thought numbers and possible offers. Can we do this???