I'd skip this one, save some money and buy one that's done. You will still spend enough time with it, upgrading and fixing things along the way. Does it have to be an early car? The T stands for turd. It isn't very fast, let me tell you. 125 hp? Something like that.
For example, an SC targa can be had for 10k in nice running condition with about 180hp and still enough things to fix on your weekends. Driving is fun too, by the way.
Somone please check the latest excellence magazine and give us the value for a poor / good / excellent example for a 71 T Targa. i bet a good one is around 10k. You will never get this one back for that amount, even if you start with a 1k "investment".
George