There are cars that you could receive with the title and a check for 2K and still loose out when you tried to sell it because of rust. However, IMO some very rusty cars are worth saving. I love Elans and sincerely hope that this car is one of those. I'm sure it will be well done and the Suddards will be proud to own and drive it.
I'm looking forward to seeing the Cortina brought back too.
You want me to put the word out on some Elan bits? Like a rear quarter panel? You guys on the LotusTalk.com forums?
My thought is that you purchased a clean title and serial number. From there, anything is possible. YMMV
T.J. wrote: So, the Mini restoration seems like it has taken about two years (at least in magazine article time). This one may take 10 years if the pace is the same. Good lord. I wish you luck and am interested to watch and learn.
I'm good. My CMS subscription runs until 2022. 
As far as saving cars with "one wheel in the crusher", I'm all for it. That is what I plan to call my 1800ES restoration blog when I get it started... someday... 
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