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What comes through the screen about your enthusiasm for this car is that you've got "hot pants" for it! When that happens your ability to carefully consider if this is the best car to begin your Porsche life with goes out the window.
Since your grandmother is paying and likely doesn't know anything about Porsches, why not find a SUPER clean SC to buy for that $12,000? THAT is the "best Porsche you can get" for the money you have to spend...and if you've been here 5 years? You know it!
An SC like this exists and will give you years of driving pleasure with a relative minimum of maintenance costs. I say "relative" in comparison to a known rusty (just not HOW rusty) early car with a forced induction transplanted engine.
Just my $.02. I don't mean to represent that I have never made unwise decisions about cars but it sounds like if you buy this and the rust is extensive or the engine takes a dump on you; you have little or no means to fix those things. Which means asking Grandma for more money and doesn't exactly impress your parents with your adult decision making. Best of luck, Dan
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Dan in Pasadena
'76 911S Sahara Beige/Cork
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