I have an opportunity to buy a GTV locally that needs some love. you can check it out at peconga.com it needs quite a few things and I'm just wondering how much time and money it will require? It needs bodywork/paint, new interior leather, etc etc
It needs a lot! I think you will find that the answer to how much it will cost depends on what you can do and what you have to pay others to do and what you want the end result to be. Just to get that car to drive and stop reliably under its own power and brakes assuming the components are basically sound will be another $1500 at least above the purchase price.
I'm working on a much better looking 72 GTV and plan on at least $5000, probably $7000 before I even get to drive it.
I would run...not walk away from this car. Don't even think about it....You can't even imagine the amount of money it will take to bring this car back. Even if it had no body damage and no rust (and I've never seen one) it's still a very involved process to bring these car back to original, and it will involve a number that has way more than 4 figures in it.