Start working on all the rust inside the engine compartment, seems to still be mostly surface rust right now, so remove it, and recoat it before it gets worse and you need to start cutting and welding. Hopefully, besides the fender and the engine compartment, the rest of the car is mostly rust free. If it is it will not be too difficult to get it back to running and stopping as it should and looking really nice. Nice project
Welcome to the forum, Carl, from west central Florida. Bright Blue metallic and argent looks like. Great color combo for the 71 Mach 1! Best wishes on your restoration.