Hi Chris -
Congratulations you found the perfect car and color combination too.
Look for rust everywhere and when you find it, they all have some, treat it to stop it dead so it does not spread.
For cars this old, I always count on a complete brake rebuild including rebuilding the proportioning valve and replacing the laster cylinder. I would replace all lines, even the hard lines just to ensure you never have to mess with them again. PMB, Eric Shea, is the best place to deal with any and all brake needs and questions. Additionally, he can advise you and supply lots of other parts. He is a 100% reliable and trustworthy guy who supports our community and loves the 914.
I would replace all fuel lines and hoses. All vacuum lines and FI hoses. Pull the gas tank and have it boiled out at a local radiator shop and then coated to protect it. Make sure you use the correct hose clamps for fuel lines.
New plugs, rotor, cap and wires. Have the FI injectors rebuilt or replace them with new.
Check all wire connections and grounds. Clean everything up and make sure it is all tightly connected. Grounds, there are quite a few, are critical on these cars. Clean and tighten all.
Replace the tires - they are probably beyond their lifespan unless you already replaced them.
Of course change all filters and fluids, including the transaxle.
Check all of the suspension bushings and rubber bits to make sure they are not dried up and disintegrated. Probably add new shocks and strut inserts to the list.
Probably should replace the battery.
Pull the interior out and clean everything. You might be surprised what you find after over 45 years of sitting around.
Check all lights to make sure they all work. Lube door, trunk and engine lid hinges.
Clean the heck out of everything and see what can be done to restore the paint to a nice shine and protect it.
Mostly, have fun and enjoy the whole process. These are great cars.
Cheers,
Michael