Presume from the outset that every bit of rubber on the bike has become so brittle it is not going to perform as needed.
Don't try and make it pretty until you have worked out how much it's going to cost in time and money to make it safe to operate. Whatever you estimate, double it. If you have that much budget, go buy something that will be much less painful to restore.
I wouldn't think a 37 year old bike would be ideal for learning to wrench on bikes, as there is going to be quite a lot of issues with spare parts. Especially as a bike that old will almost certainly have passed through many hands before landing with you. Ignorance and neglect, faulty maintenance, attempts at 'hot rodding'.... possible stunting activities..... the list of things that could be wrong has a fair potential of exceeding any value that bike may have when you make it whole, no matter how little you may have paid for it at the start.
We I in any way interested in working on something like this...... I would recognize that it will require a complete and total tear down of every sub system on the bike.
Because this bike hails from the very beginning of the 600cc SS invasion, it has quirks that are no longer mainstream which will make restoration that much more difficult.
Brake fluid. Sucks in water. SHOULD be replaced every year. If not, then the droplets of water will stat corroding the lowest point in whichever component they are settled in. Caliper piston bores are a common failure point. Brakes lines are pretty much certain to need replacing.
Suspension components (forks and rear shock) contain rubber seals, which will become brittle as they dry out and will cause leaks. No damping on the fork or shock means it's possible you would only have the springs for suspension.
Not a very stable ride.
Battery? Bin it and start fresh.
The wiring harness is almost certainly going to be an issue, as are the switches, and sockets on the harness. Idiot switches are a common failure point. Not to mention the home mechanics who have likely been fiddling about, as well as whatever rodents have chewed on the wiring.... And the corrosion inside the connectors.....
Fuel system? Carbs. take them off, completely disassemble, and run through an ultrasonic cleaner before trying to do anything else. Expect the inside of the fuel tank to be full of rust and debris.
Final drive chain? Sprockets? Best bet is to bin all of it and start fresh.