I'd hit the brakes and then roof first. Safety with the brakes and protection from further rusting on the roof. A number of options for the brakes but seriously consider going with a disk conversion in the front and a new spring kit and pads for the rear brakes. Now you'll be able to safely stop!
On the roof I'd take a wire brush, not a wirewheel/grinder, and really go at it to clean off as much rust and crud as you can. Next step is to order a quart of POR-15 (Pour Over Rust), some Marine Clean & Metal Ready. Marine Clean is a cleaner and degreaser which you use to prep the surface once you get most of the rust off. Metal Ready etches the entire surface and leaves a zinc phosphate coating for the POR-15 to properly adhere to. The POR-15 paint seals the metal from moisture thus is will not continue to rust. I'd suggest the Silver POR-15 as it has a metal filler to help fill in the pitted roof. Later when you want to do body work and paint just use some 240 grit sand paper to degloss the POR.

Thats what I'd do to start for safety and protect the roof. After this hit the suspension as it likely needs new leaf springs & shocks to start. Front suspension parts should be looked at as well and replace whats needed (good time to do the UCA drop). Next you can do the engine and or the bodywork and paint. Finish it off with new interior at this point. Just buy some cheap seat covers in the meantime if needed.

Nice gift! Take one thing at a time, have fun and good luck with it.

 

If you do order from CJ I would call or email them to make sure it is in stock before you buy. I've heard they don't tell you it is backordered until after you pay.

 

Copy that gents. My uncle did some work on the roof, he mentioned something about the pitting and he said it should be all fixed. I just need to get the vinyl back on the roof. and as far as rust goes Theres only a small spot on the driver side floor panel and the right rear 1/4 panel has a good amount on the bottom. Both of which I have replacement panels for. Theres alot of spare parts in the truck for the interior and a few for the engine plus the panels...

Again thanks for the tips and heads up on CJ's. This forums be a big help and this is only my first topic. Thanks again gents!

 

If you don't care about not being able to drive it for a while, then I would do body stuff first and then undercarriage and brakes and suspension. Then do the drivetrain and electical and interior.

 

Well It has been quite some time since I have had time to even look at my mustang much less work on it. Heck, for the past 2 years I havent even been able to touch it because Its been in FL while I am here in J-Vegas, NC. So I started to pull stuff out of the trunk to look and see what exactly I had and well lets just say that theres more rust then usable parts in there. I dont really have much accept a headliner and some of the interior door panels. Looks like I will be starting with the roof. My dad fixed the breaks so really the only thing I can do at this time is the roof.

Thats about it for the update. Oh I also discovered that pretty much all of the metal surrounding the gas tank in the trunk is either rusted through or has a good amount of surface rust. Do I just cut that out and throw some sheet metal in there? And how do i replace the sheet metal around the windshield? That w0ont even hold weatherstirp much less a windscreen...

 

my vote is:

new drum/drum wc, mc, hoses.
paint car and top.
continue as budget allows.

nice car.

 

RIght so the Brakes are done. I just did a rebuild all around so atleast I could stop if I decided to drive it around the block, which I dont think is gonna happen anytime soon. Working on the roof now, but with a small orbital sander and 40 year old paint and primer its not quick work by any means. Plus I cant just go out into the agarage all day when I have a Wife and 1 y/o....

 

Nice start!

 

lets keep this going we love pics here!