"New" 914. Is it worth restoring? Options

[Lemmonhead]

New member to the 914 world. I just bought this car yesterday as a project car for me and my son and now wondering if I may have bitten off more than I can chew. I am mechanically inclined and do most of the mechanical work on the cars I have owned but this may be a little more than my pay grade. I have never welded or done body work.
It is a 1972.
I purchased it from an older lady for $1000, it belonged to her son who passed away about 5 years ago. She needed the money and I initially thought it would be a good project. It has been sitting in the elements and baking in the hot sun of Las Vegas for the last 5 years, so every piece of rubber and the interior is shot. The engine is there but I have no idea what condition it is in. She thought it may have ran when it was parked but is unsure. No keys to the car.
We are on a budget and would like to bring the car back to a daily driver status. What do you all think?

She tried to cover the car with tarp and tape it down with duct tape but that didn't last long.

[Mark Henry]

If the chassis is solid, you can do it for $4-5k.

You can't even get a good paint job for $4-$5k. You can get it driving for that if there is very little rust and the motor is good. If the motor is bad, there goes another $5k minimum.

True, but there is a way around this.
Do the bodywork and spray it in epoxy primer, then for around $500 wrap it in vinyl. If you keep it out of the sun most of the time the vinyl will last for quite a while.