[30westrob]

What would I do. I would seek out a shop that does restoration level work. Have them do an evaluation with you. One hour on a lift with a knowledgeable technician should reveal a list of areas that need attention. I suspect some of those areas could be addressed by you. Such as clean prime and paint.
The after market has a specific patch panel designed to address the rust issue on your lower rear fender area.
Rob