It's a great value for a project bike. But! It will require significant work and some money to make it fully safe, reliable, and dependable. If you don't have the skills, tools, or space, prepare to spend $2-$4k with a shop to get this work done.
If you are willing and able to learn, to get dirty, and become intimidated then learn through it, I'd buy the bike in a heartbeat. This forum and the volume of information can enable anyone with an IQ 2x their waist size to properly rebuild and out in the road any condition bike.
So, decide who you are, and prepare yourself for tons of frustrating moments to be replaced by utter and sheer pride, joy and enthusiasm!