Should I part-out my 914?, advice Options

[dkos]

I just happened to have a few bucks in my pocket when I came across this '72 1.7. I've always want one and figured it would be a good father/son project. Well being a bonehead with a bonus check in his pocket I bought the car (this is why my wife usually handles the money). Once I got it home and up on jacks I started to discover a lot of rust hidden under those brand new rocker panels. When I jack the car under the jack points I can see the the door frame opening up. While the battery tray looks pretty good from above, once I got under the car I discovered there was some damage to the area underneath it. The jacking donut on the passenger side rear is pretty much gone. The car runs great. It starts right up even in the cold after sitting a week. The interior looks pretty nice except for a questionable reupolstering job on the drivers seat by the PO.

I'm not afraid of hard work and I know someone willing to give me welding lessons. I'm not looking to race this car or to restore it to original form. I just want to drive it safely. Will installing the Brad Mayeurs kit make this car safe to drive? Is it worth fixing or should I try to recoup my money parting it out? Can I make my money back parting it out? Can I find a rust free 914, in the Philadelphia area, for under $5000 to replace it?

Any advice appreciated.