[GaryR]

I'm guessing, but it looks like that car may have been stripped, improperly prepared, and repainted for that level of rust on an area like the roof. If the bottom of the car in the suspension areas and the rockers is solid (by some miracle) then it's not horrific (cost-wise, will be extensive time-wise), but I agree with Wayner, a solid later roller is most likely a better bet..