If looking at your first Landy the first considerations should be your own skills and what you are trying to achieve.
Are you able to complete most of the work yourself or will you have to get someone else to do the work for you ? This will start to dictate how much you need to spend and what condition you need to be looking for.
You can learn 'on-the-job' skills but what is your timescale for getting the vehicle usable ?
If you're able to weld & work with metal then bulkhead & chassis repairs are reasonably straightforward. Panel beating & spray painting are straightforward but you need the tools and some experience. How comprehensive is your toolkit ?
Also consider that paying $5K for one that is running & registered may be much cheaper than buying one for $600, potentially spending more than $5K repairing it and not getting it on the road for years.
Do you want enjoyment from driving it or repairing it ?
I think a lot of people on the forum are repairing old Land Rovers because funds are tight / they enjoy the challenge / it gives them a reason to be in the shed / a reason to visit swap meets / keep away from the wife etc. etc.
Regularly part finished projects come up for sale. Someone has stripped a vehicle down to the last nut & bolt, started working on it then lost enthusiasm, then needs the space so it's sold off in pieces. Paying a bit more for something that can be quickly registered and then worked on as well as getting used may be a better option.
I've probably posed more questions than answers but maybe work out what you are trying to achieve then you'll know what to look for.
Best of luck,
Colin
'56 Series 1 with homemade welder
'65 Series IIa Dormobile
'70 SIIa GS
'76 SIII 88" (Isuzu C240)
'81 SIII FFR
'95 Defender Tanami
Motorcycles :-
Vincent Rapide, Panther M100, Norton BIG4, Electra & Navigator, Matchless G80C, Suzuki SV650
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