Got a smokin' deal, IMO. The engine alone is worth what you paid. The Cobra intake, especially if it's pre-chinesium, is worth $600-800. The 5-lug & Cobra brakes is one of the best things that can be done to make the car more liveable.
Similarly, after ~5 years, I recently got my old H/C/I car back (
link). Got it for $3,800 in the Summer of '22. Definitely could have flipped it and made a quick few grand. Instead, I chose to turn it into my daily & an occasional auto-crosser. Now, a few hundred hours of work & many thousands of dollars later I know if I sold it, I'd lose most of the money and all of the labor I've dumped into it, but that's not a problem because it puts a smile on my face every day before & after work. I will continue to dump funds & time into it until it's exactly what I want.
So, good luck to ya. I wish you as much fun as I've had, and hopefully, the struggles with restoration will be minimal. I know the guys on the board will appreciate seeing your progress and with the combined knowledge here, you won't run into much that we haven't already seen. Please start a Progress Thread in the 79-95 Talk Forum, and start with the pics you just mentioned.