Well done mate, and welcome to the K0 club! While it's sitting there waiting for it's eventual resto to begin, save yourself some future heartache and every few days, spray every nut, bolt and screw on that thing with a liberal coat of penetrating oil, so that when the time comes, you can unbolt everything without taking the thread with it.
Being a late K0, it may or may not have the very desireable "wrinkle" tank, (worth more than the 500 bucks you paid for the whole bike) as you got some "Kreem" with it I'm guessing it might have some rust holes, whatever you do, don't throw anything away, that K0 stuff is worth a fortune, even in poor condition, so as you've already mentioned that you're no 750 expert, use the resources here and ask, before you act, it'll save you a lot of grief in the end. Cheers, Terry.