I decided to start with the interior. I spent some time working on it today. I removed the center console, both seats, the back seat and finally the convertible top. Intermittently, I spent time removing the tar substance from the floor plan and driveshaft tunnel.
Apparently, the foam in the back seat was holding water on the passenger side and rusted the pan along the frame rail:
Also, the PO broke a seat bolt when removing the seat (I'm not sure how I'll get it out):
Found a couple of holes next to the drivers seat bracket:
Inside the driver's side quarter panel looked surprising good:
The passenger side inner quarterpanel didn't fare as well:
The inside of the doors looks good too:
Cowl seems to be fine also, though unsurprisingly the wiper linkage was seized up.
Overall, I'm pleased with the general condition of the interior, from the reading I've been doing here and elsewhere, I was prepared for much worse!
At the moment I plan to treat the metal with an aluminum based moisture cured urethane. I painted a rusty shovel with it a few years ago and was impressed at how it lasted. Will probably use two coats of Rust Bullet, then top coat with black Rustoleum.
Any suggestions how to fix that broken off seat bolt? How about the holes near the seat bracket? How about the back seat rust?